Michael Saylor’s Strategy Acquires $100M in Bitcoin Amid Fed Rate Cut
- Strategy purchased 850 Bitcoin for $99.7 million last week.
- The acquisition occurred after the US Federal Reserve cut interest rates by 25 basis points.
- The average purchase price was $117,344 per coin, as BTC hit multiweek highs above $117,000.
- Strategy’s total Bitcoin holdings now stand at 639,835 BTC, valued at approximately $47.3 billion.
- In September, Strategy has acquired a total of only 3,330 BTC, down from August’s purchases of over double that amount (7,714 BTC).
Michael Saylor noted a trend of decreasing volatility in Bitcoin prices amid increased institutional adoption, suggesting it may lead to less trading activity and excitement in the market.
This latest acquisition reflects a significant investment strategy as Strategy continues to build its Bitcoin holdings despite a slowdown in purchasing activity compared to previous months.(Source)
