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Strategy Is Buying Bitcoin Again After 2-Month Pause: Here’s How Much
The purchase came after Saylor’s major hint yesterday on X.
ByJordan Lyanchev
Well over two months after completing its last bitcoin buy, the world’s largest corporate holder of the cryptocurrency is back on the offensive.
The firm’s co-founder and former CEO, Michael Saylor, outlined the acquisition on X, indicating that Strategy has acquired 4,603 BTC for almost $370 million at an average price of $80,318 per unit.
This brings the company’s total to 845,050 BTC, acquired for $63.73 billion at an average price of $75,412 per BTC. In addition to returning to the BTC accumulation scene, Strategy continued to repurchase shares of STRC by adding another $151.8 million.
This is perhaps the most surprising and important Strategy purchase over the past year or so, as it came after a two-month hiatus in which the company turned its entire attention to rebuilding its USD stash, which is now worth over $6.7 billion.
Since the firm used STRC to fuel its massive bitcoin purchases, its price had tumbled very far off its par level of $100, going as low as $75 at one point. However, once Strategy pivoted from its short-term BTC accumulation strategy (no pun intended), STRC gradually recovered, closing last week at over $97.
Meanwhile, the company even sold bitcoin on a few occasions, but its latest buy offsets most losses. Additionally, its massive stash has turned green for the first time since May, as it’s now worth $66.4 billion.
Source: cryptopotato.com