No Surprise: Strategy Increases BTC Holdings With Another Multi-Million Purchase
Strategy – the company founded by Michael Saylor – has a tradition of announcing Bitcoin purchases at the start of each week and rarely skips that routine.
Just recently, it revealed the acquisition of 525 BTC, worth north of $60 million. The average price of the deal was around $114,562 per coin.
It is important to note that Strategy’s previous buys were much more substantial. Last week, it added almost 2,000 BTC for nearly $220 million, whereas some purchases earlier this year surpassed $1 billion.
Following the latest move, the company increased its total crypto holdings to 638,985 BTC acquired for $47.23 billion at $73,913 per coin. Currently, this is worth over $73 billion, meaning Strategy sits on a whopping profit of north of $25 billion (at least on paper).
The firm started accumulating BTC in the summer of 2020 and has become the biggest corporate holder, surpassing Marathon Digital Holdings and others.
The post No Surprise: Strategy Increases BTC Holdings With Another Multi-Million Purchase appeared first on CryptoPotato.
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