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Strategys Latest Bitcoin Buy Is Worth Over $1.3 Billion: Details

Strategys Latest Bitcoin Buy Is Worth Over $1.3 Billion: Details
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Michael Saylor, the bitcoin brain behind Strategys BTC plan, announced the latest acquisition earlier today with which the company has made a return to the billions of USD.

More precisely, the NASDAQ-listed firm spent $1.34 billion to acquire 13,390 BTC at an average price of just shy of $100,000. This means that the acquisition was completed sometime in the middle of last week, when BTC last stood within a five-digit price territory.

Recall that last weeks purchase was a lot more modest as the company had allocated $180 million to acquire 1,895 BTC. Now, though, Strategy is back with the billion-dollar buys and its stash has shot up to 568,840 BTC.

It was accumulated at an average price of $69,283 per bitcoin. Given the assets price explosion as of late, Strategys holdings are now valued at over $59 billion, putting them at an an unrealized profit of approximately $20 billion.

While Saylors company continues to accumulate BTC en masse and refuses to sell even a single one, heres a detailed article on how these purchases have turned the cryptocurrency into a deflationary asset.

MSTRs price has been on a roll in the past month, surging by over 33%. It closed on Friday at $416.

The post Strategys Latest Bitcoin Buy Is Worth Over $1.3 Billion: Details appeared first on CryptoPotato.

Read more: https://cryptopotato.com/strategys-latest-bitcoin-buy-is-worth-over-1-3-billion-details/

Text source: CryptoPotato

Disclaimer: Financial information and news are not financial advice, read the disclaimer.
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