Business intelligence firm Strategy has purchased an additional 3,015 bitcoin for approximately $204.1 million. The company, led by co-founder Michael Saylor, now holds over 720,000 BTC, though its total position remains at an unrealized loss as bitcoin’s price trades below the firm’s average purchase cost.
Strategy has confirmed the acquisition of 3,015 bitcoin for approximately $204.1 million. The firm’s co-founder and former CEO, Michael Saylor, announced the purchase, which was executed at an average cost of around $67,700 per bitcoin.
This latest transaction increases the company’s total holdings to 720,737 BTC. The firm’s total bitcoin stash was acquired for approximately $54.77 billion at an average price just under $76,000 per coin.
With bitcoin trading near $66,000 at the time of the announcement, the holdings are worth approximately $47.5 billion. This represents an unrealized net loss exceeding $7 billion on the firm’s total position.
Social media responses to the purchase were largely supportive. One user called the move a show of “conviction, not hesitation.”
Strategy’s stock price was down 0.5% in pre-market trading following the announcement. More volatility was anticipated when Wall Street opened for regular trading.
