Business intelligence firm Strategy executed its 100th consecutive weekly Bitcoin purchase on Monday, acquiring 592 BTC for $39.8 million. An SEC filing confirmed the milestone buy, funded by selling $39.7 million worth of MSTR shares. Executive Chairman Michael Saylor has downplayed recent market volatility, calling it a “much milder” crypto winter while the company expands its total holdings to 717,722 Bitcoin.
Business intelligence firm Strategy completed its 100th weekly Bitcoin purchase on Monday, February 23. The acquisition comes as Bitcoin’s price declines and MSTR stock trades lower.
An SEC filing confirmed the company purchased 592 Bitcoin at an average price of $67,286 each, totaling $39.8 million. Strategy now holds 717,722 Bitcoin, acquired for a total of $54.56 billion.
The purchase was funded from net proceeds of $39.7 million generated by selling 297,940 MSTR shares. Michael Saylor had hinted at the purchase on Sunday, posting a screenshot of the company’s Bitcoin portfolio tracker on X.
In a Fox Business interview, Saylor downplayed market volatility. He stated that the industry is in a “crypto winter” and emphasized that it is “much milder” compared to the sharp deleveraging experienced in 2022.
Analysts believe Strategy is now considered a player in the transition toward a Bitcoin-based financial system. Saylor also emphasized that capital flow into the industry remains consistent alongside Layer 2 and institutional custody developments.
Bitcoin’s price fell from highs near $68,000 over the weekend to around $65,000. This decline is attributed to weakening demand, as indicated by market data.
The price drop is also affecting MSTR stock. According to Yahoo Finance data, the company’s share price fell more than 2% to around $129.
