Strategy Acquires $27M in Bitcoin Before Market Crash
- Strategy (MSTR) purchased 220 BTC at an average price of $123,561.
- The firm raised $27.3 million by selling preferred stocks to fund the purchase.
- Bitcoin’s price fell from over $123,000 to as low as $103,000 during a significant market crash.
- At its lowest point, BTC traded nearly 16% lower than Strategy’s recent purchase price.
- Following the acquisition, Strategy’s total Bitcoin holdings increased to 640,250 BTC.
The recent volatility in the cryptocurrency market saw over $19 billion liquidated in leveraged positions after a flash crash triggered by geopolitical tensions. Despite this downturn, Strategy continues to hold a substantial amount of Bitcoin acquired since starting its treasury plan in 2020.
With its latest purchase at a high price point before the crash, Strategy now holds 640,250 BTC, reflecting their long-term investment strategy despite short-term market fluctuations.
