MSTR Splashes Out $330 Million for Another 4,871 BTC

Michael Saylor's 'Back to Work' Post Signals MSTR Resumes Bitcoin Buying

The executive chairman of Strategy (MSTR) hinted at the company's resumed Bitcoin purchases on Sunday, with a signature chart indicating new buys. The next day, MSTR announced it spent nearly $330 million acquiring 4,871 BTC over the past week. At around $67,718 per BTC, this brings the company's total holdings to 766,970 BTC, acquired at an average price of $75,644 per coin.

This means Strategy now holds a total of 766,970 Bitcoin acquired at an average price of $75,644 per coin. Its current holdings are at a loss of over 8%. In recent days, MSTR's stock rose over 4% as markets opened on Monday amid a broader rally in the cryptocurrency market.

Retail sentiment around MSTR's stock trended in 'bullish' territory over the past day, with chatter staying at 'high' levels. However, some retail traders expressed caution, comparing Saylor's strategy of Bitcoin accumulation to the Hunt brothers' attempt at cornering the silver market in the 1980s.