Michael Saylor’s Strategy, previously known as MicroStrategy, made another BTC purchase between May 19 and 25, bringing its total holdings to 580,250 BTC. This comes amid plans to raise $2.1 billion to buy more BTC. Meanwhile, the MSTR stock price is in the red and has failed to rally despite the announcement of this most recent Bitcoin purchase.
Strategy Purchases 4,020 BTC For $427.1 Million
In a press release, the company announced that it has purchased 4,020 BTC for $427.1 million at an average cost of $106,237 per Bitcoin. It has also achieved a BTC yield of 16.8% year-to-date (YTD).
The firm now holds 580,250 BTC, which it acquired for $40.16 billion at an average price of $69,979 per Bitcoin. It remains the public company with the largest Bitcoin holdings, well ahead of the second-placed MARA Holdings.
This marks the company’s seventh consecutive Bitcoin purchase in a period that dates back to May 14. Last week, Strategy, previously MicroStrategy, purchased 7,390 BTC for $764.9 million. The largest purchase during this period came between May 5 and 11, when it bought 13,390 BTC for $1.34 billion.
The MSTR stock price is down over 7% despite this announcement, trading at around $369 in pre-market. An expert recently predicted the stock could still crash to as low as $350 before it records a 100% rally to the upside.
Boluwatife Adeyemi
Boluwatife Adeyemi is a well-experienced crypto news writer and editor who has covered topics that cut across several topics and niches. Boluwatife has a knack for simplifying the most technical concepts and making it easy for crypto newbies to understand. Away from writing, He is an avid basketball lover, a traveler and a part-time degen.
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