Strategy Adds $217M BTC, Now Holding 638,460 Coins
The post Strategy Adds $217M BTC, Now Holding 638,460 Coins appeared on BitcoinEthereumNews.com. Key Insights: Michael Saylor’s Strategy purchases 638,460 Bitcoin, valued at $ 217 million. A SEC filing indicates that Strategy primarily funded the purchase by selling MSTR shares. Strategy’s stock is up 2.54% on TradingView, trading near last week’s close of $335. Michael Saylor’s Strategy, formerly known as MicroStrategy, announced another weekly Bitcoin purchase after missing out on the S&P 500 last week. Bitcoin has bounced back above $112,000 today, with MSTR experiencing a 2.54% increase over the last 24 hours. Bitcoin Whale Strategy Adds 1,955 Bitcoin Worth $217 Million The company stated that it purchased 1,955 BTC last week for $217.4 million, at an average price of $111,196 per coin. Its BTC holdings are up 25.8% year-to-date, and it now owns 638,460 BTC, purchased for a total of $41.17 billion at an average price of $73,880. The SEC filing indicates that Bitcoin whale primarily funded the purchase by selling MSTR shares. It raised $200.5 million from 591,606 MSTR shares, plus $11.6 million from STRF and $5.2 million from STRK. This latest purchase follows the company’s failure to make the S&P 500 last week. It met the requirements for inclusion, but the Committee chose Robinhood, AppLovin, and Emcor instead. Yesterday, Saylor hinted at the purchase in an X post, sharing a picture of Strategy’s Bitcoin portfolio tracker with the caption, “Needs More Orange.” This is the company’s sixth straight week of buying Bitcoin. Last week, it added 4,048 BTC for $444 million, and with the latest purchases, Strategy now holds more than 3% of the total supply. MSTR Went Up By 2.54% The Bitcoin whale’s stock is up 2.54% on TradingView, trading near last week’s close of $335 after the latest Bitcoin purchase. MSTR stock fell after the S&P 500 Committee’s decision, announced late Friday. It traded flat last week but…