Strategy has resumed its bitcoin acquisitions with a $330 million purchase of 4,871 BTC after a one-week pause. The NASDAQ-listed firm, led by Michael Saylor, now holds approximately 767,000 BTC. Its total investment of $58 billion remains underwater despite a recent price rally, as the average purchase price sits above $75,000 per coin. The news coincided with a public exchange between Saylor and critic Peter Schiff regarding bitcoin’s multi-year performance.
Strategy announced a new bitcoin purchase on Monday, ending a brief weekly hiatus. The company bought 4,871 BTC last week for roughly $330 million at an average price of $67,718 per unit.
This acquisition brings the firm’s total holdings to 766,970 BTC. Those coins were acquired for approximately $58 billion at an average cost of $75,644 each.
The company’s total bitcoin fortune is currently worth about $53.3 billion. This means its position remains at a loss despite bitcoin’s price moving toward $70,000.
Strategy’s main stock ticker, MSTR, rose nearly 4% in pre-market trading following the announcement. The stock price has declined from almost $160 to $124.54 since the start of the year.
Co-founder Michael Saylor also engaged in an online debate with permanent bitcoin critic Peter Schiff. The duo compared BTC’s five-year returns to assets like gold, stocks, and silver.
Schiff claimed the cryptocurrency has increased by only 12% in that timeframe. Saylor pointed to a higher annualized return chart starting in August 2020, when his company began accumulating.
