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Strategy Makes Another Big Bitcoin Buy, Total Stash Surges to 538,200 BTC

Strategy Makes Another Big Bitcoin Buy, Total Stash Surges to 538,200 BTC
© Copyright Image: CryptoPotato

Michael Saylor, the co-founder and current Executive Chairman of the worlds largest corporate BTC holder, announced the latest acquisition earlier today.

The firm spent $555.8 million to accumulate another 6,556 BTC to its sizeable stash, which has now skyrocketed to 538,200 BTC.

As the post above highlights, Strategys (formerly MicroStrategy) average accumulation price for its latest purchase was at $84,785 per BTC, which means that the buy was completed at last weeks prices, given the fact that the asset flew past $87,000 earlier today and has remained mostly there.

In total, the company has allocated a whopping $36.47 billion to acquire its BTC fortune at an average price of $67,766 per bitcoin. This puts its overall unrealized profits at roughly $10 billion, according to current prices.

Its stock price managed to weather the recent storm caused by US President Donald Trumps tariffs and is actually up by 4% on a month-to-month scale. It dropped to $230 during the sell-off two weeks ago, but it ended Friday close to $320.

The post Strategy Makes Another Big Bitcoin Buy, Total Stash Surges to 538,200 BTC appeared first on CryptoPotato.

Read more: https://cryptopotato.com/strategy-makes-another-big-bitcoin-buy-total-stash-surges-to-538200-btc/

Text source: CryptoPotato

Disclaimer: Financial information and news are not financial advice, read the disclaimer.
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