Strategy Suffers Loss on Latest Bitcoin Purchase
Strategy, a company that has been buying Bitcoin (BTC), has made its first disclosed purchase since June 22. The company acquired 4,603 BTC between August 24 and August 30 for $369.7 million, paying an average of $80,318 per coin including fees and expenses.
The price of Bitcoin at the time of writing was around $78,316, according to CoinGecko, which means that Strategy's latest acquisition cost is roughly $2,000 above the current market price.
At the current price, the new tranche of BTC is worth about $360.5 million, approximately $9 million less than what Strategy paid for it.
The company's broader Bitcoin position remains above its aggregate cost basis, with a total holding of 845,050 BTC acquired for an aggregate $63.73 billion at an average cost of $75,412 per coin.