According to the company’s statement, Strategy acquired 17,994 BTC for a total of approximately $1.28 billion. The average purchase price was $70,946 per Bitcoin, which is below the company’s overall average acquisition price of about $75,862.
The transaction was financed through a combination of issuing preferred shares (STRC), whose trading volumes have recently increased significantly, and selling common shares (MSTR).
Following this purchase, Strategy’s total Bitcoin holdings have reached 738,731 BTC. The company has invested around $56 billion in building this portfolio.
Massive Bitcoin purchases despite market weakness
This marks Strategy’s largest BTC acquisition since January, when the company bought 22,305 BTC for $2.13 billion at an average price of $95,284 per coin.
Although the latest purchase was made below the company’s average acquisition price, Strategy continues to actively expand its Bitcoin position. Meanwhile, MSTR shares are still trading at only a small premium above the company’s net asset value (NAV).
Since February 9, the company has already added 25,229 BTC in five separate purchases, reducing the average acquisition price to $75,862.
Following the latest investments, Strategy now controls roughly 3.7% of the total Bitcoin supply.
Over the past 24 hours, the Bitcoin price has increased by about 3.5%, once again approaching the key $70,000 level. MSTR shares also gained roughly 4% over the same period.
Earlier, well-known cryptocurrency critic Peter Schiff mocked Strategy’s Bitcoin buying strategy. However, the latest investments could shift the narrative in Michael Saylor’s favor.
