Strategy logs 100th bitcoin purchase announcement, adding 592 coins last week for $39.8 million

AI Summary2 min read

TL;DR

Strategy purchased 592 bitcoin for $39.8 million last week, marking its 100th bitcoin purchase announcement. The company now holds 717,722 bitcoin acquired for $54.56 billion, with an unrealized loss due to current market prices.

Michael Saylor, Executive Chairman of Strategy (MSTR)

What to know:

Strategy purchased 592 bitcoin for $39.8 million last week.
The company's holdings now total 717,722 bitcoin purchased for $54.56 billion.
It was the company's 100th bitcoin purchase announcement, according to a cheeky X post by company Executive Chairman Michael Saylor.

Strategy purchased 592 bitcoin for $39.8 million last week.
The company's holdings now total 717,722 bitcoin purchased for $54.56 billion.
It was the company's 100th bitcoin purchase announcement, according to a cheeky X post by company Executive Chairman Michael Saylor.

Strategy (MSTR), the world's largest publicly traded company holding bitcoin, made a small BTC acquisition last week, adding 592 coins for $39.8 million.

That's an average purchase price of $67,286 per bitcoin, with the buys completely funded via sales of common stock, according to an SEC filing.

The company now holds 717,722 bitcoin acquired for $54.56 billion, or an average price of $76,020 per coin. With bitcoin currently trading just above $66,000, the position represents an unrealized loss of roughly $10,000 per coin, or about $7 billion in total.

This morning's news is a milestone of sorts. According to a cheeky X post by Executive Chairman Michael Saylor, it was Strategy's 100th announcement of a bitcoin purchase since the company (then named MicroStrategy) began acquiring BTC in August 2020.

MSTR shares are down 2.5% in pre-market action and more than 50% year-over-year.

Bitcoin slipped back to $65,400 during U.S. trading Monday after it failed to hold a modest overnight rebound.
U.S. stocks were sharply lower, with the embattled software sector — of late perfectly correlated with crypto — down another 5% and private-equity shares continuing to plunge.
Bitcoin is acting like a "high-beta risk play," not "digital gold" as investors pull back from speculative assets, LMAX strategist said.

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