Michael Saylor’s Strategy Firm to Buy More Bitcoin as Prices Stabilize
- Strategy, co-founded by Michael Saylor, is set to purchase more Bitcoin as prices hover around $66,000.
- The firm recently acquired 3,015 BTC for over $204 million in February, raising total holdings to approximately 720,737 BTC valued at about $48.1 billion.
- Strategy’s average purchase cost stands at about $75,985 per BTC, indicating current market prices are below this threshold.
- Despite a downturn in the market and net asset values (NAVs) for treasury companies, Strategy continues to finance its BTC acquisitions through debt and equity.
- Saylor has expressed skepticism about merging with distressed treasury companies due to financial uncertainties affecting the market.
As Bitcoin remains below Strategy’s average purchase price of $75,985 per BTC, the firm is actively looking to increase its holdings despite challenging market conditions.
With total assets now reaching approximately $48.1 billion after recent purchases, Strategy continues its aggressive accumulation strategy amid a broader market downturn.(Source)
