Strategy, formerly known as MicroStrategy, continues to increase its Bitcoin holdings. Recently, they have made several large purchases and expressed support for Pakistan in creating a cryptocurrency reserve.
New Bitcoin Purchase
Strategy acquired 10,100 BTC for approximately $1.05 billion at an average price of $104,080 per coin. Michael Saylor reported that this marks the tenth consecutive week the company has increased its Bitcoin holdings. The firm now holds a total of 5,921,100 BTC, purchased for around $41.84 billion.
Support for Pakistan in the Cryptocurrency Sphere
Michael Saylor has shown support for Pakistan in its intentions to build its own Bitcoin reserve. During a meeting with Pakistan's Finance Minister Muhammad Aurangzeb and State Minister for Crypto and Blockchain Bilal Bin Saqib, the possibility of using Bitcoin as part of the country’s financial reserves was discussed. Saylor expressed his willingness to act as an advisor in this process.
Impact on MicroStrategy's Stock
The company's approach to Bitcoin purchases has positively impacted MicroStrategy's stock, which has risen by 93% over the past year, with the current stock price at $382.8.
Strategy continues to actively invest in Bitcoin, confirming its commitment to the cryptocurrency. Support for Pakistan in forming a national cryptocurrency reserve highlights the growing interest in cryptocurrencies on the global stage.
