DATA & FIGURES
The latest acquisition brings Strategy's total Bitcoin holdings to 846,842 BTC, with a total cost of $64.07 billion. The average cost basis per Bitcoin is now $75,656, slightly lower than the previous average. The purchase was made at an average price of $63,024 per Bitcoin, with a total value of $100 million. Additionally, Strategy raised $209 million through the sale of 1.73 million MSTR shares.
THE SCENARIO
The acquisition comes as Bitcoin continues to trade below Strategy's average cost basis, indicating a potential buying opportunity. The company's decision to fund the purchase through MSTR stock sales demonstrates its ability to raise capital and invest in Bitcoin.
DIRECT QUOTE
"Still adding dots" — Michael Saylor, Executive Chairman, Strategy
BBN INSIGHT
Strategy's latest acquisition demonstrates its continued commitment to Bitcoin and its ability to raise capital through MSTR stock sales. The move highlights the company's long-term approach to Bitcoin investing and its willingness to take advantage of buying opportunities.
MARKET REACTION
The price of Bitcoin has responded positively to the news, with the cryptocurrency trading at around $66,470. The acquisition has also had a positive impact on MSTR stock, with the company's shares trading at around $626.62.