Despite recent price fluctuations in Bitcoin, the firm Strategy under Michael Saylor continues to build its cryptocurrency reserves, demonstrating confidence in its long-term value.
New Investments by Strategy in Bitcoin
Strategy (formerly MicroStrategy) purchased 245 Bitcoin for $26 million at an average price of $105,856 per Bitcoin. This transaction occurred amidst declining cryptocurrency prices, as many investors chose to hold back on purchases.
Company Statistics and Accumulation
According to the latest report, Strategy's total Bitcoin holdings amount to a staggering 592,345 BTC, making it one of the largest corporate holders of the cryptocurrency globally. The firm's total investment in Bitcoin has reached approximately $41.87 billion, with an impressive average cost basis of $70,681 per coin.
Market Reaction to Strategy's Actions
Despite the bullish buy, Strategy's shares (MSTR) opened the day with a 2% decline. However, MSTR shares have surged 169% over the past year, validating the company's unwavering commitment to its Bitcoin-first strategy.
Michael Saylor remains committed to his strategy, viewing market fluctuations as buying opportunities. This policy reinforces the company's belief in Bitcoin as a long-term financial asset.
