Strategy Accumulates Another $1.28B Worth of Bitcoin, Total Holdings Surpass 738,000 BTC
The company led by Michael Saylor acquired 17,994 BTC for $1.28 billion during the previous week, bringing aggregate reserves to 738,731 BTC even as the cryptocurrency trades beneath the firm's mean purchase price.
Strategy, led by Michael Saylor and recognized as the largest publicly-traded corporation holding Bitcoin globally, expanded its cryptocurrency reserves by acquiring a substantial volume of BTC during the past week, elevating its total reserves beyond the 738,000 BTC threshold.
According to documents filed with the US Securities and Exchange Commission on Monday, Saylor's Strategy obtained 17,994 Bitcoin (BTC) valued at $1.28 billion throughout the previous week.
This transaction represents Strategy's most substantial BTC accumulation since the month of January, during which the company purchased 22,305 BTC for a total sum of $2.13 billion, paying an average rate of $95,284 per BTC.
According to Strategy's disclosure, the most recent acquisition was executed at a mean price point of $70,946 per Bitcoin, sitting beneath the corporation's cumulative average acquisition cost of $75,985, though notably higher than the approximately $67,000 price level where BTC predominantly traded throughout most of the week.
With this latest transaction, the company's total holdings have reached 738,731 BTC, representing an aggregate expenditure of approximately $56 billion, according to Strategy's announcement.
The first major buy below Strategy's cost basis
The recent Bitcoin acquisition by Strategy represents one of the company's most significant BTC purchases historically, particularly noteworthy given that BTC is currently trading beneath the firm's overall cost basis.
Historically, during comparable periods when prices fell below cost during the 2022-2023 timeframe, Strategy generally refrained from executing larger acquisitions, instead completing a collective 28,560 BTC through seven separate smaller transactions.
Data from SaylorTracker indicates that Strategy has already executed five separate acquisitions throughout the present below-cost period, accumulating a combined total of 25,229 BTC beginning February 9.
Starting from Feb. 9, Strategy's average cost basis has experienced a decline of 0.24% thus far, decreasing from $76,052 down to $75,862.