Key takeaways
- The strategy bought 487 Bitcoins for $49.9 million at an average price of $102,557 per Bitcoin.
- The company continues to increase its corporate Bitcoin holdings through regular acquisitions.
Strategy, a publicly traded business intelligence company, acquired 487 Bitcoins for $49.9 million at an average price of $102,557 per Bitcoin last week.
The purchase strengthens Strategy’s position as a leading Bitcoin holder for businesses. The company continues its pattern of regular Bitcoin acquisitions funded through the sale of common stock as part of the company’s financing strategy.
Strategy has been actively expanding its financials through crypto acquisitions amid continued institutional interest in Bitcoin. Businesses are increasingly tapping into the digital asset of government reserves as broader economic uncertainties persist.
The acquisition adds to Strategy’s significant Bitcoin holdings and sustains the firm’s aggressive strategy of investing in cryptocurrency as part of its core business strategy.
