Michael Saylor’s Strategy (MSTR) has significantly expanded its bitcoin holdings, acquiring an additional 4,871 BTC for approximately $330 million last week. This purchase, made at an average price of $67,718 per coin, brings the company’s total bitcoin holdings to 766,970 BTC, representing about 3.8% of the total circulating supply. The recent acquisitions were primarily funded through $227.3 million in sales of the company’s STRC preferred stock and $72 million from common stock sales.
Despite the aggressive accumulation, Strategy’s overall position remains underwater, with unrealized losses of around $5 billion as the average cost basis stands at $75,644 per bitcoin. This highlights the volatility and risk associated with large-scale bitcoin investments, especially as the cryptocurrency hovers near $69,120. Notably, Strategy is one of the few institutional players actively absorbing bitcoin supply, alongside spot ETFs, which further underscores the ongoing institutional interest in the asset.
For market professionals, Strategy’s actions could signal continued institutional demand for bitcoin, potentially influencing market dynamics as other players assess their positions amid fluctuating prices.
Source: coindesk.com