Strategy Acquires Additional Bitcoin Amid Price Dip
- Strategy purchased 525 BTC for $60.2 million, averaging $114,562 per Bitcoin.
- The company now holds a total of 638,985 BTC, acquired at an average price of $73,913.
- This marks the seventh consecutive week of Bitcoin purchases by Strategy.
- MSTR stock fell nearly 2% to around $325 following the announcement.
- Bitcoin is currently trading just below $115,000, down from its recent all-time high of $124,000.
Michael Saylor attributed his company’s performance to Bitcoin and confirmed that no MSTR shares were sold for this purchase, instead utilizing proceeds from other stock sales totaling over $68 million.
The recent acquisition reflects Strategy’s ongoing commitment to Bitcoin despite fluctuations in both cryptocurrency and MSTR stock prices. (Source)
