Saylor’s Strategy Spends Over $200 Million to Acquire 3,015 BTC: Details
After hinting about another purchase on Sunday, Strategy’s co-founder and former CEO, Michael Saylor, has made it official, indicating that his firm has splashed $204.1 million to acqure additional 3,015 BTC.
The average cost for the latest transaction was $67,700, and the company’s stash has grown to 720,737 BTC. It was purchased at an average price of just under $76,000, which means that the NASDAQ-listed firm continues to be deep in the red on its bitcoin position.
With the cryptocurrency’s price trading at around $66,000 as of press time, Strategy’s fortune is worth around $47.5 billion, which represents an unrealized net loss of over $7 billion.
Most comments below Saylor’s posts outlined their support for the move, with one user calling the purchase of 3,015 BTC during the current macro conditions a show of “conviction” and not hesitation.
Strategy’s stock price has not opened for trading yet after the weekend events in the Middle East, but is down by 0.5% in pre-market trading. More volatility is expected when Wall Street opens in a few hours.
The post Saylor’s Strategy Spends Over $200 Million to Acquire 3,015 BTC: Details appeared first on CryptoPotato.
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