Strategy, one of the largest institutional players in the cryptocurrency market, continues its Bitcoin purchases without slowing down. According to information shared by the company’s founder and CEO, Michael Saylor, the firm purchased 3,273 Bitcoins between April 20-26 at an average price of $77,906. The total value of this purchase is approximately $255 million.
With these latest purchases, Strategy’s total Bitcoin holdings have reached 818,334 BTC. This amount has a current market value of approximately $63.7 billion, while the company’s average purchase cost is calculated at $75,537. Thus, the company has made a total investment of approximately $61.8 billion. This portfolio represents approximately 3.9% of Bitcoin’s maximum supply of 21 million.
The company’s latest acquisition was financed with proceeds from previous share sales. Last week, Strategy sold 1.45 million shares, raising approximately $255 million. The company also plans to raise billions of dollars in additional capital to continue its Bitcoin purchases in the coming period.
On the other hand, Strategy’s aggressive Bitcoin strategy continues to attract attention in the market. The company’s shares have gained over 10% in the past week, while the price of Bitcoin has risen by approximately 4.6% during the same period. Analysts note that such institutional purchases could increase long-term confidence in the market.
*This is not investment advice.
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