Strategy (MSTR) added to its bitcoin holdings, but appears to have made all his purchases before the deep price drop in the back half of the week.
Led by Chairman Michael Saylor, the company added 1,142 bitcoins for $90 million, or an average price of $78,815 each. The strategy’s stack now stands at 714,644 bitcoin bought for $54.35 billion, or an average price of $76,056 each.
Bitcoin on Monday morning is trading at just under $69,000, down 2.6% over the past 24 hours. The MSTR share is lower by 3.9 per cent.
Last week’s acquisition was financed by the sale of common stock.
Given the average purchase price of $78,815, it appears that Strategy made its purchases on Monday or Tuesday of last week, ahead of the rapid decline in bitcoin’s price, which took the crypto to as low as $60,000 at one point on Thursday.
