Strategy Announces Most Recent Purchase

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Michael Saylor’s Strategy has bought a whopping amount of BTC in its latest move.

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Summarize with AI

Summarize with AI

Strategy, the world’s largest corporate Bitcoin holder, has announced a massive purchase worth $1.28 billion.

The firm bought a total of 17,994 BTC at an average price of $70,946 per unit. This may explain last week’s surge in prices.

With this, Strategy now holds a whopping 738,731 BTC, which it acquired for approximately $56 billion at an average price of $75,862 per bitcoin.

The industry remains torn on the firm’s approach, with some analysts and observers criticizing the plan to leverage company shares to buy Bitcoin exclusively. That said, at the time of this writing, Strategy sits on an unrealized loss of about $6 billion, as BTC prices went through serious volatility today.

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Source: https://cryptopotato.com/1-28-billion-worth-of-bitcoin-btc-strategy-announces-most-recent-purchase/