Strategy (MSTR) added to your bitcoin holdings, but appears to have made all of its purchases before the deep drop in prices in the second half of the week.
Led by CEO Michael Saylor, the company added 1,142 bitcoins for $90 million, or an average price of $78,815 each. The strategy’s stack now stands at 714,644 bitcoins purchased for $54.35 billion, or an average price of $76,056 each.
As of Monday morning, Bitcoin is trading at just under $69,000, down 2.6% over the past 24 hours. MSTR shares fell 3.9%.
Last week’s acquisitions were financed by the sale of common stock.
Given the average purchase price of $78,815, it appears that Strategy made its purchases on Monday or Tuesday of last week, before the rapid drop in the price of bitcoin, which took the cryptocurrency to as low as $60,000 at one point on Thursday.
