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#SaylorBTCPurchase
Michael Saylor, co-founder and CEO of Strategy.
Ronda Churchill—Bloomberg/Getty Images
Strategy purchased 26 million dollars in Bitcoin in the last seven days, the second smallest weekly acquisition announced by the digital asset treasury company led by Michael Saylor since it increased its cryptocurrency purchases more than six months ago.
The company, formerly known as MicroStrategy Inc., acquired 245 bitcoins between June 16 and June 22 at an average price of 105,856 dollars each, according to a report filed on Monday with the U.S. Securities and Exchange Commission (SEC). While Strategy has not made purchases for several weeks, this was the smallest amount acquired since it bought 130 tokens during the period ending March 17. The company, based in Tysons Corner, Virginia, owns approximately 60 billion dollars in bitcoins.
This is also the fourth consecutive week that Strategy funds its Bitcoin purchases without selling common shares. Skeptics of Saylor's strategy, such as short seller Jim Chanos, have expressed concern about the high premium that common shares represent over the value of its token holdings.
The latest acquisitions were made with the net proceeds from the sale of the company's preferred shares Strike (STRK) and Strife (STRF). Saylor is co-founder and executive chairman of Strategy.
Strategy's shares have risen more than 3000% since the business software maker began buying Bitcoin in mid-2020. Bitcoin has gained around 1000% during the same period. The stock remained virtually unchanged on Monday, around 368.35 dollars.##BinanceAlphaAle r #MarketReboun #NEWTBinanceHODLe $BTC
Michael Saylor, co-founder and CEO of Strategy.
Ronda Churchill—Bloomberg/Getty Images
Strategy purchased 26 million dollars in Bitcoin in the last seven days, the second smallest weekly acquisition announced by the digital asset treasury company led by Michael Saylor since it increased its cryptocurrency purchases more than six months ago.
The company, formerly known as MicroStrategy Inc., acquired 245 bitcoins between June 16 and June 22 at an average price of 105,856 dollars each, according to a report filed on Monday with the U.S. Securities and Exchange Commission (SEC). While Strategy has not made purchases for several weeks, this was the smallest amount acquired since it bought 130 tokens during the period ending March 17. The company, based in Tysons Corner, Virginia, owns approximately 60 billion dollars in bitcoins.
This is also the fourth consecutive week that Strategy funds its Bitcoin purchases without selling common shares. Skeptics of Saylor's strategy, such as short seller Jim Chanos, have expressed concern about the high premium that common shares represent over the value of its token holdings.
The latest acquisitions were made with the net proceeds from the sale of the company's preferred shares Strike (STRK) and Strife (STRF). Saylor is co-founder and executive chairman of Strategy.
Strategy's shares have risen more than 3000% since the business software maker began buying Bitcoin in mid-2020. Bitcoin has gained around 1000% during the same period. The stock remained virtually unchanged on Monday, around 368.35 dollars.##BinanceAlphaAle r #MarketReboun #NEWTBinanceHODLe $BTC
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