Michael Saylor’s Strategy Acquires 10,645 Bitcoin Amid Market Decline
- Strategy purchased 10,645 BTC for $980.3 million at an average price of $92,098 per Bitcoin.
- The company now holds a total of 671,268 BTC, acquired for $50.33 billion at an average price of $74,972 per Bitcoin.
- This purchase is the largest since July and follows a previous acquisition of 10,624 BTC for $962.7 million.
- MSTR stock sales funded this purchase, raising approximately $888.2 million from share sales.
- MSTR stock has declined over 24% in the past month as Bitcoin’s price fell below $100,000.
These acquisitions come amid potential economic shifts such as a rate hike in Japan and uncertainty regarding MSCI’s index inclusion due to crypto holdings. The correlation between MSTR stock and Bitcoin prices remains strong, influencing market perceptions significantly.
With this latest purchase, Strategy continues to increase its Bitcoin holdings despite market volatility and regulatory challenges, reflecting a yield of approximately 24.79% year-to-date on its investments.(Source)
