Michael Saylor’s Strategy Acquires Additional Bitcoin Reserves
- Strategy purchased 1,587 Bitcoin (BTC) for $100 million at an average price of $63,024 per BTC.
- The company’s total Bitcoin holdings now stand at approximately 846,842 BTC, valued at around $56.1 billion based on current prices.
- Funding for this acquisition was sourced from the sale of Class A common stock (MSTR), raising about $209 million from selling shares.
- Following this purchase, the average cost basis for Strategy’s Bitcoin holdings decreased slightly to $75,656 per BTC.
- The company had previously sold a small amount of BTC (32) on June 1, marking its first reported sale in years.
Michael Saylor’s Strategy continues to expand its Bitcoin reserves despite trading below its average cost basis. The recent acquisition reflects a strategy to leverage stock sales for further investment in cryptocurrency while maintaining liquidity for operational needs.
With the latest buy of over $100 million in BTC, Strategy now holds nearly $56.1 billion worth of Bitcoin assets.(Source)
