Strategy Snaps Up 950 BTC in Record-Breaking Week
Strategy, a Bitcoin treasury company founded by Michael Saylor, has made significant purchases in the past week. It bought 950 BTC for $75.7 million at an average price of $79,670 per coin, taking its total holdings to 846,000 BTC. This acquisition brings Strategy within 1,363 coins of setting a new record.
The company's USD Cash pool fell by $249.7 million to $1.05 billion as it spent $174.0 million buying back preferred shares and $75.7 million on the latest batch of BTC purchases. The average buy price of $79,670 is $15,408 above what Strategy paid for 1,690 BTC in the previous week.
Strategy's total Bitcoin holdings now value at $63.80 billion, with an average cost basis of $75,416 per coin. The company has been actively acquiring BTC over the past two months after summer sales reduced its holdings to their lowest point since May.