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MainNewsStrategy Buy...

Strategy Buys $1.92 Billion Worth of Additional Bitcoin


by Vivek Sen Bitcoin
for Bitcoin Magazine

Bitcoin Magazine

Strategy Buys $1.92 Billion Worth of Additional Bitcoin

Business intelligence company Strategy continued stacking sats by acquiring 22,048 bitcoin worth nearly $2 billion.

According to a March 31 SEC filing, Strategy purchased the coins for $1.92 billion last week, or around $86,969 per bitcoin. This boosted the company’s total bitcoin treasury to 528,185 BTC acquired for $35.63 billion.

At bitcoin’s current price of approximately $82,000, Strategy’s holdings are now valued at over $43 billion. Michael Saylor continues aggressively accumulating bitcoin.

The recent buys were funded mostly through issuing $1.2 billion of new MSTR common shares. By buying bitcoin funded via equity, Strategy converts its corporate treasury from dollars into hard assets. The company has pioneered using its balance sheet as a leveraged play on bitcoin’s rise.

Strategy’s average purchase price per bitcoin has also steadily increased to $67,458. This shows Saylor is still willing to pay premium prices to keep stacking sats.

However, the gap between Strategy’s average entry price and bitcoin’s market price has narrowed significantly during this prolonged cool-off. The company may soon be buying BTC below its cost basis if prices continue drifting lower.

Regardless, Strategy remains ultra bullish on bitcoin over the long term. The company expects to benefit from bitcoin’s appreciation over decades against fiat currencies being devalued by inflation.

This post Strategy Buys $1.92 Billion Worth of Additional Bitcoin first appeared on Bitcoin Magazine and is written by Vivek Sen Bitcoin.

Read the article at Bitcoin Magazine

Read More

Michael Saylor’s Strategy Scoops Up More Bitcoin For $1.42 Billion, Pushing Holdings To 553,555 BTC

Michael Saylor’s Strategy Scoops Up More Bitcoin For $1.42 Billion, Pushing Holdings To 553,555 BTC

Led by Executive Chairman Michael Saylor, Strategy has again added to its massive Bit...
Saylor Calls Bitcoin a ‘Historic Entry Point,’ Predicts It ‘Will Rip Forward With a Vengeance’ 

Saylor Calls Bitcoin a ‘Historic Entry Point,’ Predicts It ‘Will Rip Forward With a Vengeance’ 

In a recent interview, Strategy’s Michael Saylor characterized the present moment as ...
MainNewsStrategy Buy...

Strategy Buys $1.92 Billion Worth of Additional Bitcoin


by Vivek Sen Bitcoin
for Bitcoin Magazine

Bitcoin Magazine

Strategy Buys $1.92 Billion Worth of Additional Bitcoin

Business intelligence company Strategy continued stacking sats by acquiring 22,048 bitcoin worth nearly $2 billion.

According to a March 31 SEC filing, Strategy purchased the coins for $1.92 billion last week, or around $86,969 per bitcoin. This boosted the company’s total bitcoin treasury to 528,185 BTC acquired for $35.63 billion.

At bitcoin’s current price of approximately $82,000, Strategy’s holdings are now valued at over $43 billion. Michael Saylor continues aggressively accumulating bitcoin.

The recent buys were funded mostly through issuing $1.2 billion of new MSTR common shares. By buying bitcoin funded via equity, Strategy converts its corporate treasury from dollars into hard assets. The company has pioneered using its balance sheet as a leveraged play on bitcoin’s rise.

Strategy’s average purchase price per bitcoin has also steadily increased to $67,458. This shows Saylor is still willing to pay premium prices to keep stacking sats.

However, the gap between Strategy’s average entry price and bitcoin’s market price has narrowed significantly during this prolonged cool-off. The company may soon be buying BTC below its cost basis if prices continue drifting lower.

Regardless, Strategy remains ultra bullish on bitcoin over the long term. The company expects to benefit from bitcoin’s appreciation over decades against fiat currencies being devalued by inflation.

This post Strategy Buys $1.92 Billion Worth of Additional Bitcoin first appeared on Bitcoin Magazine and is written by Vivek Sen Bitcoin.

Read the article at Bitcoin Magazine

Read More

Michael Saylor’s Strategy Scoops Up More Bitcoin For $1.42 Billion, Pushing Holdings To 553,555 BTC

Michael Saylor’s Strategy Scoops Up More Bitcoin For $1.42 Billion, Pushing Holdings To 553,555 BTC

Led by Executive Chairman Michael Saylor, Strategy has again added to its massive Bit...
Saylor Calls Bitcoin a ‘Historic Entry Point,’ Predicts It ‘Will Rip Forward With a Vengeance’ 

Saylor Calls Bitcoin a ‘Historic Entry Point,’ Predicts It ‘Will Rip Forward With a Vengeance’ 

In a recent interview, Strategy’s Michael Saylor characterized the present moment as ...