Interestingly, after a series of buys and sells over the past few weeks, the company is left with a net gain of just 69 bitcoin despite having invested approx. $20 million in additional capital, a crypto trader, KALEO, said on X. Because the company sold coins below the prices it had recently paid, the implied average cost of these additional holdings exceeded $289.0O added per bitcoin.
Strategy has now bought 843,775 bitcoin at an average price of $75,476, maintaining its position as the largest publicly traded company holder of the cryptocurrency.
Despite the losses, today’s move to sell millions of dollars worth of bitcoins is likely to signal to investors that the strategy will go to the lengths necessary to protect its dividends on its high-yield favorite, Stretch ( STRC ), whose yield now stands at 12% after a recent 50 basis point gain.
Indeed, while bitcoin and Strategy’s common stock, MSTR, are lower on Monday, STRC continues to rise from last week’s lows below $75, rising another 2.1% to just back above $90.
the ‘strategy’
Given the zigzags in strategy over the past few weeks, the company’s short-term capital allocation has become harder for investors to predict. Assuming relatively stable prices for BTC, MSTR, and STRC, it’s probably safe to say that bitcoin purchases are off the table for the foreseeable future.
