Michael Saylor's Strategy made modest bitcoin purchase at start of last week's crypto crash
The company added 1,142 bitcoin purchased for about $90 million, or an average price of $78,815 per coin.
- Bitcoin treasury company Strategy purchased 1,142 bitcoin for $90 million last week.
- The company now holds 714,644 bitcoin purchased for $54.35 billion, or an average price of $76,056 each.
- Shares are lower by nearly 4% premarket as bitcoin retreats a bit from its Friday close near $70,000.
Strategy (MSTR) added to its bitcoin holdings, but appears to have made all its purchases before the deep price plunge in the back half of the week.
Led by Executive Chairman Michael Saylor, the company added 1,142 bitcoin for $90 million, or an average price of $78,815 each, according to a Monday filing. Strategy's stack now stands at 714,644 bitcoin purchased for $54.35 billion, or an average price of $76,056 each.
Bitcoin is trading at just under $69,000 on Monday morning, down 2.6% over the past 24 hours. MSTR shares are lower by 3.9%.
Last week's acquisitions were funded by the sale of common stock.
Given the average purchase price of $78,815, it appears Strategy made its purchases on Monday or Tuesday last week, before bitcoin's rapid decline, which took the crypto to as low as $60,000 at one point on Thursday.
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Diversified RWA stablecoins sustain 5-7% yield from real credit as crypto funding compresses to ~4%. GENIUS pushes yield off-chain; TAM grows to $4B in 3 years.
Diversified RWA stablecoins sustain 5-7% yield from real credit as crypto funding compresses to ~4%. GENIUS pushes yield off-chain; TAM grows to $4B in 3 years.
Why it matters:
Diversified RWA stablecoins sustain 5-7% yield from real credit as crypto funding compresses to ~4%. GENIUS pushes yield off-chain; TAM grows to $4B in 3 years.
