TLDR
- Strategy purchased 130 Bitcoin for $11.7 million at an average price of $89,960 per Bitcoin.
- The company now holds a total of 650,000 Bitcoin, acquired for $48.38 billion.
- Strategy reported a year-to-date Bitcoin yield of 27.8%.
- Despite market fear, with the Fear and Greed Index at 20, Strategy remains committed to Bitcoin accumulation.
- The company continues its strategy of buying Bitcoin regardless of short-term price fluctuations.
Michael Saylor’s Strategy has purchased 130 Bitcoin for $11.7 million, marking its latest move in the crypto market. The company made the acquisition at an average price of $89,960 per Bitcoin. This purchase comes as the market sentiment dips into fear, following a sharp decline in Bitcoin’s price.
Strategy’s Bitcoin Accumulation Continues
In a press release, Strategy confirmed the purchase of 130 BTC, adding to its ever-growing holdings. The company now owns 650,000 BTC, acquired for $48.38 billion at an average price of $74,436 per Bitcoin. The company reported a year-to-date BTC yield of 27.8%, signaling its successful strategy.
Saylor hinted at the purchase earlier in the week, teasing an update with a post on X. “What if we start adding green dots?” he wrote, referring to the company’s portfolio tracker. This message suggested the resumption of Bitcoin buying, even after a brief hiatus.
Strategy’s approach of accumulating Bitcoin, regardless of price fluctuations, is not new. Last week, the company acquired 8,178 BTC for $836 million, funded through its STRE offering. This purchase came after a two-week pause, indicating the company’s commitment to its Bitcoin strategy.
Bitcoin Price Volatility Doesn’t Deter Strategy
Despite Bitcoin’s recent drop below $90,000, Strategy remains undeterred in its pursuit of more BTC. The cryptocurrency’s price volatility has not affected the company’s long-term vision. Strategy has shown resilience in the past, continuing to buy even during the 2022 crypto winter.
The company’s consistent purchases highlight its belief in Bitcoin’s potential, regardless of market conditions. While the current sentiment indicates fear, with the ‘Fear and Greed’ Index at 20, Strategy’s strategy remains steady.
MSTR Stock Declines Alongside Bitcoin
Strategy’s stock, MSTR, also saw a decline in premarket trading, dropping more than 5%. As of now, MSTR is trading around $168. Despite this, the company remains focused on its Bitcoin strategy, unaffected by short-term market movements.
Strategy has shown its resolve by continuing to accumulate Bitcoin, even as Bitcoin’s price fluctuates. Investors are watching closely as the company executes its long-term plans.
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