Disclaimer: The analyst who wrote this piece owns shares of Strategy (MSTR).
In a significant move that underscores its commitment to cryptocurrency investment, Strategy (MSTR) has added another 3,459 BTC to its holdings last week. This latest acquisition brings the company’s total bitcoin stash to an impressive 531,644 BTC.
According to a regulatory filing released on Monday morning, the company purchased the additional bitcoin for $285.8 million, equating to an average price of $82,618 per BTC. This strategic move not only positions Strategy as a significant player in the cryptocurrency market but also reflects the growing acceptance of bitcoin as a vital asset class.
The total holdings of 531,644 BTC have been acquired at a cumulative cost of $35.92 billion, which leads to an average acquisition price of $67,556 per bitcoin. The latest purchase was funded through the sale of TKTK shares of common stock, reinforcing the company’s strategy to bolster its digital currency reserves.
Interestingly, shares of MSTR have shown a positive response in premarket trading, up by 1%. This rise is attributed to bitcoin’s steady price surge, currently maintaining levels above $84,000. As cryptocurrency continues to evolve, Strategy’s aggressive accumulation strategy may prove to be advantageous for its long-term growth and stability.
As we continue to monitor the market, it will be intriguing to see how further developments unfold in Strategy’s approach to bitcoin and its impact on the company’s overall valuation.
