Strategy is back in the business of buying large tranches of Bitcoin, announcing a weekly purchase of nearly $1 billion worth of BTC for the second straight week.
The publicly traded firm—formerly known as MicroStrategy—added 10,645 Bitcoin last week, according to an SEC filing, spending $980.3 million for an average price of $92,098 per coin. This follows the previous week’s purchase of 10,624 BTC for $963 million.
All told, the company now holds 671,268 BTC that it acquired for a total of about $50.33 billion, resulting in an average price of $74,972 per Bitcoin. At Bitcoin’s current price of $89,462, that puts the value of Strategy’s stash at approximately $60 billion.
Strategy sold $989 million worth of stock last week to fuel the purchases, according to the SEC filing, including about $882 million worth of MSTR, its Class A common stock, and $82 million worth of STRD, its Series A Perpetual Stride Preferred Stock.
Strategy had slowed substantially on Bitcoin purchases in recent months, with Monday’s buy marking the firm’s largest weekly haul since late July.
The firm’s stock has fallen sharply of late, finishing Friday’s trading day at $176—a 21% drop over the past month, and 53% dive in the last six months. Bitcoin has also been falling over the last two months, but not as sharply; BTC is down about 7% in the last 30 days, dropping more than 29% since hitting a new high above $126,000 in early October.
Strategy established a $1.4 billion cash reserve earlier this month to help pay for dividends and avoid potentially selling Bitcoin, though company executives admitted that they may ultimately need to sell crypto during downturns.
Cantor Fitzgerald analysts recently dismissed investor concerns about Strategy's Bitcoin buying approach as unfounded, particularly fears that the company wasn't purchasing during Bitcoin's price dip.
However, multiple analysts lowered their price targets, citing Strategy's potential exclusion from MSCI indices as a bearish factor. Last week, the firm issued a public letter to MSCI, with the firm claiming that excluding crypto treasury firms from its indices would constitute a potential “national security” threat, and push back on President Trump’s pro-crypto agenda.
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