Bitcoin Frenzy: Strategy's Stealthy $75M Bitcoin Buy
Bitcoin Acquisition by Michael Saylor Marks Smallest Purchase in Over Two Months
Strategy, once MicroStrategy, has made a stealthy, $75M purchase of Bitcoin last week, according to SEC filings. This latest acquisition加上了 Strategy's existing Bitcoin stash, now totalling over $60B at current prices.
The Tysons Corner, Virginia-based company didn't mess around, picking up around 705 Bitcoin, averaging at $106,495 per Bitcoin. The funds for this sizable stake came from a sale of preferred stocks – $36.2M from STRK and $38.4M from STRF.
Strategy's recent Bitcoin grab follows a high-profile week, culminating in Michael Saylor's captivating speech at the BTC Inc. annual confab in Sin City. Saylor laid out "21 Ways to Wealth," showcasing Bitcoin's prowess to thousands of attendees.
This latest Bitcoin acquisition marks Strategy's smallest purchase since mid-March, acquiring $10M worth of Bitcoin according to Saylor Tracker. The move saw the company's share price dip when markets opened in the U.S on Monday, edging down 0.34% to around $367.75, despite soaring 26% year-to-date, outpacing Bitcoin's climb.
Meanwhile, Bitcoin itself was trading around $104,000, a slight decrease from its 24-hour high, as per CoinGecko. Last month, the crypto asset peaked at an all-time high of $111,000 before taking a nosedive.
The Bitcoin conference in Vegas saw a slew of companies, including Japanese investment firm Metaplanet and Vivek Ramaswamy's Strive Asset Management, making a beeline for Bitcoin.
Saylor wrapped up his speech in Vegas with a bang, reiterating Bitcoin's potential reach. "It's for everyone," he declared to a thunderous applause. "Trade your fiat currency for Bitcoin. Trade your long-term capital for Bitcoin. Sell your bonds, trade them for Bitcoin. Sell your inferior equity, sell your inferior real estate property, buy Bitcoin."
Edited by James Rubin
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- Strategy's recent $75M purchase of Bitcoin has brought their total Bitcoin holdings to over $60B, highlighting the company's growing interest in cryptocurrency finance.
- The Tysons Corner, Virginia-based company acquired around 705 Bitcoin last week, averaging at $106,495 per Bitcoin, emphasizing Strategy's significant investment in the crypto market through technology.
- The latest acquisition followed a high-profile week for Strategy, culminating in Michael Saylor's influential speech at the Bitcoin Inc. annual conference, where he emphasized Bitcoin's potential and encouraged businesses to invest in it.
- Meanwhile, in the broader crypto market, Bitcoin was trading around $104,000, a slight decrease from its 24-hour high, illustrating the volatility characteristic of the crypto business.
