Strategy Rises on $963 Million Bitcoin Buy, Largest Since July

Strategy Inc. shares rose as much as 2.8% in premarket trading Monday after the digital asset treasury company said it bought $962.7 million worth of Bitcoin from Dec. 1 to Dec. 7, marking its largest acquisition since July.

The Michael Saylor-founded Bitcoin treasury company acquired 10,624 tokens for an average purchase price of $90,615, below current trading levels. The firm also announced that it sold about 5.1 million common shares in the same period, for net proceeds of $928 million, and sold perpetual strife preferred stock with net proceeds of $34.9 million.