Strategy Resumes Bitcoin Purchases with $370 Million Investment
- Strategy purchased 4,603 BTC for $370 million at an average price of $80,318.
- The company now holds a total of 845,050 BTC, acquired for $63.73 billion at an average price of $75,412.
- This purchase marks the first acquisition in over two months after selling 1,690 BTC earlier this month.
- The recent Bitcoin rally saw prices surge from around $63,000 to above $81,000 in two weeks.
- Part of the funding for this purchase came from selling 4.53 million MSTR shares for $602 million.
- In addition, Strategy bought nearly 1.6 million STRC shares for $151.8 million last week.
The resumption of purchases by Strategy reflects its confidence amid a significant uptrend in Bitcoin prices and is supported by recent stock sales to fund these investments.
With the latest buy of 4,603 BTC, Strategy continues to expand its holdings as the cryptocurrency market shows signs of recovery and optimism.(Source)
