Michael Saylor’s Strategy buys 3,015 BTC for $204M, extending its streak to 10 weeks as Bitcoin holds above $65K amid U.S.-Iran tensions.
Michael Saylor Buys 3,015 BTC as War Fears Shake Markets, as Strategy added more Bitcoin while global tensions weighed on risk assets.
The purchase came as Bitcoin held above $65,000 despite renewed volatility tied to the U.S.-Iran conflict.
Strategy Adds 3,015 BTC in Latest Weekly Purchase
Michael Saylor’s Strategy acquired 3,015 Bitcoin between February 23 and March 1.
The company disclosed the purchase in a filing with the U.S. Securities and Exchange Commission. It spent $204.1 million at an average price of $67,700 per Bitcoin.
Strategy now holds 720,737 BTC. The company said it acquired the holdings for $54.77 billion at an average price of $75,985 per Bitcoin.
The filing shows the firm remains one of the largest corporate holders of Bitcoin.
The company funded the purchase through stock sales. It raised $229.9 million from selling 1.7 million MSTR shares. It also generated $7.1 million from selling 71,590 STRC shares.
Tenth Straight Weekly Buy Despite Market Volatility
This purchase marks Strategy’s tenth consecutive weekly Bitcoin acquisition. The buying streak dates back to December last year.
The latest addition follows a prior purchase of 592 BTC for $39.8 million.
Saylor signaled the move in a post on X before the announcement. He shared the company’s Bitcoin portfolio tracker and wrote, “The Turn of the Century.” The post came one day before the SEC filing became public.
Strategy continues to buy even as Bitcoin trades below its average entry price. Based on current prices, the company holds an unrealized loss of more than $7 billion.
Saylor has said in past statements that the firm does not plan to sell its Bitcoin holdings during downturns.
Related Reading: Michael Saylor Says Solana Will Power the Future of Digital Credit
Bitcoin Holds Above $65,000 as War Fears Persist
Bitcoin faced renewed pressure after tensions rose between the United States and Iran.
The cryptocurrency fell to around $63,000 over the weekend following reports of U.S. military action. However, it later recovered and traded above $65,000.
The broader crypto market also saw volatility, yet Bitcoin remained relatively stable compared to previous geopolitical shocks.
Market participants monitored developments in the Middle East while also watching macroeconomic data.
Strategy’s stock, MSTR, traded down less than 1% in premarket activity. The move reflected Bitcoin’s steady price action during the same period.
The company’s continued accumulation comes as investors assess both geopolitical risks and crypto market conditions.
Source: https://www.livebitcoinnews.com/michael-saylor-buys-3015-btc-as-war-fears-shake-markets/
