Strategy Adds 950 Bitcoin to Holdings Amid Rising Prices
Strategy, a publicly traded company, has added to its Bitcoin holdings by acquiring 950 BTC at an average price of $79,670 per coin. This purchase brings the total number of BTC held by Strategy to 846,000, with a total value of $63.80 billion and an average purchase price of $75,416 per coin.
The acquisition was made between September 14 and September 20 using USD cash from Strategy's reserves. The company has also repurchased 1.77 million STRC shares for $174 million during the same period. This move is part of Strategy's efforts to maintain a strong treasury position, which includes both Bitcoin and preferred stock.
The latest purchase takes place as BTC prices continue to rise, reaching a nine-month high. CoinGecko's Crypto Fear & Greed Index has also shown a neutral reading of 46, indicating a balanced market sentiment. Strategy's treasury strategy has been subject to scrutiny, with some questioning the company's decision to hold such a large amount of Bitcoin.