- Strategy purchased 850 BTC for $99.7 million, continuing its Bitcoin buying spree despite market declines.
- The company financed its latest Bitcoin purchase through MSTR and STRF stock sales, raising over $100 million.
- Michael Saylor’s recent post highlights Strategy’s long-term commitment to Bitcoin, showing no intention of selling its holdings.
Strategy has doubled down on its Bitcoin accumulation strategy, acquiring 850 BTC for $99.7 million. The company continues its aggressive stance in the crypto market, despite recent declines in Bitcoin’s price and its own stock, MSTR.
This latest purchase comes amid challenging market conditions. The company’s stock, MSTR, has recently dropped to a five-month low, and Bitcoin’s price has also seen a significant pullback. Nevertheless, Strategy has remained undeterred in its commitment to increasing its Bitcoin holdings. The company now holds a total of 639,835 BTC, acquired for $47.33 billion, with an average purchase price of $73,971 per Bitcoin.
Funding the Purchase Through Share Sales
To finance this acquisition, Strategy sold shares of its MSTR and STRF stocks. According to the SEC filing, the company raised $80.6 million from MSTR stock sales and an additional $19.4 million from STRF stock sales. This method of raising capital underscores Strategy’s continued belief in the long-term value of Bitcoin and its ongoing investment strategy.
Michael Saylor, the co-founder of Strategy, has repeatedly indicated his company’s intention to continue its Bitcoin purchasing strategy. In a recent post on X (formerly Twitter), Saylor referenced the phrase, “The Orange Dots go up and to the right,” hinting at the ongoing acquisition spree. This statement reinforces Strategy’s position that it intends to hold its Bitcoin for the long term and does not plan to sell its holdings anytime soon.
Bitcoin and MSTR Stocks Struggling
While Strategy’s Bitcoin purchases continue, the company’s stock and Bitcoin price are both under pressure. As of the latest data, MSTR is trading at approximately $336, marking a more than 2% decline from the previous week’s closing price. The stock has traded in a narrow range over the past month, with a slight gain of less than 2%. In addition, Bitcoin is currently trading just under the $113,000 level, facing a 2% drop in the last 24 hours.
Despite these declines, Strategy remains committed to its Bitcoin acquisition strategy. The company’s latest purchase marks the eighth consecutive week of Bitcoin buys, a clear signal of its strategy to accumulate more digital assets in the face of market fluctuations.
