Strategy Nears 100 Consecutive Bitcoin Purchases Amid Market Uncertainty

Michael Saylor's Bitcoin treasury firm Strategy is close to its 100th consecutive purchase of Bitcoin. Since entering the market in August 2020, the company has bought 99 Bitcoins, with the most recent purchases occurring over the past 12 weeks.

The firm currently holds 717,131 Bitcoins at an average price of $76,027 per coin, despite the asset trading below this average cost. Strategy's first purchase in August 2020 was a $250 million investment, driven by Saylor's view of Bitcoin as an inflation hedge and store of value.

The company has continued to accumulate Bitcoins despite being in unrealized loss territory due to the current market price. Its share price has risen approximately 950% since the initial purchase in 2020, climbing from around $12.44 to $131.05.