The company Strategy, led by Michael Saylor, has acquired 245 Bitcoin amid rising geopolitical tensions, reaffirming its accumulation strategy.
BTC Purchase During Volatility
Strategy acquired 245 Bitcoin for $26 million, as disclosed in a SEC filing on June 23. This purchase was made at an average price of $105,856 per BTC during the week ending June 22. This decision coincided with a price dip where Bitcoin fell from $108,900 to an intraweek low near $99,000.
Funding the Acquisition
To finance the acquisition, Strategy sold 166,566 STRK preferred shares for $17 million and issued 84,354 STRF preferred shares for $8.7 million. These proceeds totaled $26 million dedicated to the Bitcoin purchase.
Long-term Strategy of Michael Saylor
Michael Saylor's strategy remains steady — to accumulate assets regardless of short-term price fluctuations. He predicts Bitcoin will reach $21 million in value within 21 years. Currently, Bitcoin is trading around $101,654, reflecting a 0.71% increase over 24 hours.
The acquisition of 245 BTC by Strategy highlights the company's commitment to long-term asset accumulation despite short-term price fluctuations and geopolitical instability.
