Strategy Continues Bitcoin Accumulation Amid Market Declines
- Strategy acquired 850 BTC for $99.7 million, averaging $117,344 per Bitcoin.
- The company now holds a total of 639,835 BTC, purchased for $47.33 billion at an average price of $73,971.
- Funding for this purchase came from selling MSTR and STRF shares, raising $80.6 million and $19.4 million respectively.
- This marks Strategy’s eighth consecutive weekly Bitcoin purchase since late July.
- MSTR stock is currently trading at approximately $336, down over 2% from last week’s close of $344.
- Bitcoin is trading just below $113,000, down more than 2% in the last day amid a broader market downturn.
The ongoing accumulation by Strategy occurs during notable declines in both Bitcoin and MSTR stock prices, attributed to macroeconomic factors like rising U.S. Treasury yields.
Strategy’s recent purchase of 850 BTC adds to its substantial holdings as it navigates a challenging market environment with Bitcoin currently trading below the psychological level of $113,000.
