Strategy Logs 100th Bitcoin Purchase
Strategy, a major player in the Bitcoin market, has marked its 100th purchase announcement, acquiring 592 bitcoins for $39.8 million last week. This move brings the company’s total holdings to 717,722 bitcoins, purchased at an average price of $76,020 each, amounting to $54.56 billion. Executive Chairman Michael Saylor revealed the milestone in a playful post on X.
The latest acquisition was funded through sales of common stock, according to an SEC filing. The average purchase price for these new coins was $67,286, indicating a strategic buy during market fluctuations. Despite this purchase, Strategy faces an unrealized loss of about $10,000 per coin, as Bitcoin currently trades just above $66,000. This financial strategy underscores the company’s commitment to its long-term Bitcoin investment plan.
Bitcoin itself has been experiencing significant volatility. Last night, it fell to $64,270 but quickly rebounded to $66,300. This pattern mirrors movements in S&P 500 futures, driven by geopolitical tensions and U.S. tariff adjustments. Strategy’s latest move aligns with its ongoing strategy to bolster Bitcoin holdings amid such market dynamics.
As we noted in our recent analysis of Michael Saylor’s investment moves, his consistent acquisitions reflect a strong belief in Bitcoin’s future value despite current market pressures. MSTR shares, however, have seen a decline, dropping 2.5% in pre-market trading and more than 50% over the past year.
Analyst Insight: Strategy’s continuous investment in Bitcoin, despite current losses, highlights a long-term vision that contrasts with recent outflows in crypto funds.
The question remains whether this strategy will pay off in the face of ongoing market volatility and potential regulatory changes.
Sources: CoinDesk