Strategy, led by Michael Saylor, continued its long-running bitcoin accumulation strategy last week, adding a relatively modest amount just before the market took a sharp downturn.
According to a regulatory filing released on Monday, the company purchased 855 bitcoin for around $75.3 million, paying an average price of $87,974 per coin. The purchase was funded through the sale of common stock.
Compared to Strategy’s aggressive buying pattern over the past several months, this was a smaller addition. The firm has frequently bought hundreds of millions, and at times billions, of dollars’ worth of bitcoin in single weeks.
Even so, the latest purchase pushed Strategy’s total bitcoin holdings to 713,502 BTC.
The company has spent roughly $54.26 billion to build this position, with an average acquisition price of $76,052 per bitcoin.
After last week’s sell-off dragged bitcoin down to just above $77,000, Strategy is now sitting only slightly above its breakeven level, after more than five years of steady accumulation.
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