CryptoStrategy Makes Biggest Bitcoin Purchase in Years as Total...

Strategy Makes Biggest Bitcoin Purchase in Years as Total Stash Exceeds 815,000 BTC

-




The last time the company spent so much money at once was just after the 2024 US presidential elections.

Strategy has really ramped up its bitcoin purchases with two consecutive ones that were worth over $1 billion. However, the latest, announced just minutes ago, set a multi-year record.

The largest corporate holder of bitcoin splashed over $2.5 billion to acquire 34,164 BTC at an average price of $74,395 per unit. This massive acquisition puts the company’s total stash at 815,061 BTC, purchased for $61.56 billion (at an average price of $75,527).

Given the cryptocurrency’s correction and failure at $78,400 last Friday, this means that Strategy still sits on a minor paper loss, but the gap has narrowed since the February lows.

Recall that the Michael Saylor-founded firm spent $1 billion during the previous massive BTC purchase announced last Monday. However, the one for $2.54 billion outlined now is the biggest since late November 2024, when the firm bought 55,500 BTC for $5.4 billion when the asset traded close to $100,000.

The company’s stock prices jumped last week alongside the rest of the financial markets. MSTR ended with a 32% surge in 5 days, closing at over $166 on Friday. However, it has declined by more than 2% in pre-market trading, and is expected to experience even more volatility after today’s opening bell on Wall Street.

SPECIAL OFFER (Exclusive)

Binance Free $600 (CryptoPotato Exclusive): Use this link to register a new account and receive $600 exclusive welcome offer on Binance (full details).

LIMITED OFFER for CryptoPotato readers at Bybit: Use this link to register and open a $500 FREE position on any coin!





Source link

LEAVE A REPLY

Please enter your comment!
Please enter your name here

Latest news

Binance Offers $10 USDC Voucher Welcome Bonus for 99Bitcoins Readers

Binance is giving 99Bitcoin readers an exclusive offer: a $10 USDC voucher when they sign up using our...

Memecoins: Culture, Trade, or Casino?

You’ve seen the screenshots. Someone turns $200 into $80,000 overnight. A coin named after a dog, a frog,...

Strategy’s bitcoin bet back in profit after $11B drawdown

It took years of leverage and over $11B in unrealized losses for Michael Saylor’s Strategy to flip green...

Blue Origin successfully re-uses a New Glenn rocket for the first time ever

Blue Origin has successfully reused one of its New Glenn rockets for the first time ever, marking a...

Advertisement

What Is Asteroid Shiba (ASTEROID)? The SpaceX Mascot Story Behind Crypto’s Wildest Rally This Week

In a market often driven by hype, speculation, and fleeting narratives, it’s rare for a cryptocurrency rally to...

Rumble begins merging with Northern Data

Tether-related companies Northern Data and Rumble are set to begin their merger, with Rumble offering equity for shares...

Must read

Binance Offers $10 USDC Voucher Welcome Bonus for 99Bitcoins Readers

Binance is giving 99Bitcoin readers an exclusive offer:...

Memecoins: Culture, Trade, or Casino?

You’ve seen the screenshots. Someone turns $200 into...

You might also likeRELATED
Recommended to you