Saylor’s Strategy Buys Over 1,000 BTC as Unrealized Losses Mount Up

The world’s largest corporate holder of bitcoin continues to be unfazed by the ongoing tension in the Middle East, announcing bitcoin purchases every Monday.

According to the numbers Michael Saylor just published, this one was completed at some point in the first few days of the previous business week since the average entry price was at $74,326. The cryptocurrency stood above $74,000 by Wednesday morning before it nosedived before and after the second FOMC meeting for the year.

Nevertheless, Strategy’s holdings have shot up to 762,099 BTC after the company accumulated another 1,031 units for $76.6 million. The firm has spent $57.69 million to acquire its bitcoin fortune.

This week’s announced purchase is significantly lower than the one highlighted last Monday. At the time, Saylor said the company he co-founded has spent a whopping $1.57 billion to acquire 22,337 BTC.

The firm continues to be deep in the red on its bitcoin position, given the cryptocurrency’s correction to under $70,000 as of press time after the fake-out rally to $71,500 following Trump’s latest questionable statement on the war in Iran.

The post Saylor’s Strategy Buys Over 1,000 BTC as Unrealized Losses Mount Up appeared first on CryptoPotato.