Bitcoin-Focused Treasury Company Strategy Buys Another Large Amount of Bitcoin

Source: CryptoNewsNet Original Title: Bitcoin-Focused Treasury Company Strategy Buys Another Large Amount of Bitcoin! Here Are the Details Original Link: https://cryptonews.net/news/bitcoin/32264483/ Strategy, known for its Bitcoin-focused treasury strategy and co-founded by Michael Saylor, continues its cryptocurrency purchases without slowing down. According to an 8-K filing submitted to the US Securities and Exchange Commission (SEC), the company purchased approximately 13,627 Bitcoins between January 5th and 11th for about $1.25 billion. The average price per Bitcoin in this purchase was reportedly $91,519.

With this latest purchase, Strategy’s total Bitcoin holdings have risen to 687,410 BTC. At current market prices, this portfolio is worth approximately $62.3 billion, while the company reportedly acquired the Bitcoins at an average cost of $75,353 per Bitcoin, totaling $51.8 billion in expenditures. This amount represents more than 3% of Bitcoin’s maximum supply of 21 million, and on paper, indicates a gain of approximately $10.5 billion.

These acquisitions were financed through “market sales” of the company’s Class A shares (MSTR) and perpetual preferred shares (STRC). Strategy announced that it sold $1.13 billion worth of MSTR shares last week and still has capacity to sell an additional $10.26 billion. Approximately $119 million was also generated from the sale of STRC shares.

This aggressive Bitcoin accumulation came shortly after MSCI’s decision not to delist companies with significant digital asset holdings. This decision by MSCI reduced uncertainty surrounding crypto-heavy companies like Strategy, and their shares closed the week slightly higher. Michael Saylor, meanwhile, drew investor attention to the new purchases by alluding to them on social media with the phrase “Big Orange.”