Institutional buying of Bitcoin continues: Strategy company acquires an additional 7,390 Bitcoin
The company "Strategy," which specializes in business intelligence software founded by "Michael Saylor," has increased its Bitcoin reserves by adding 7,390 Bitcoin, bringing its total holdings to 576,230 Bitcoin.
This acquisition was executed at a value of nearly $40 billion.
The average purchase price of Bitcoin by the company is slightly less than $70,000 per coin, giving the company an unrealized profit exceeding $19 billion, based on a trading price of $103,000 at the time of the announcement.
This announcement came on Monday, following a familiar pattern from the company regarding the timing of its announcements, especially after "Saylor" hinted at it in a previous post.
This coincided with another notable announcement from "Metaplanet," the largest Bitcoin holder in Asia, which similarly acquired an additional 1,004 Bitcoin worth over $104 million, raising its total reserves to 7,800 Bitcoin, valued at more than $800 million.
In its first-quarter report, "Metaplanet" confirmed that this quarter was its best in terms of revenue in its two-decade history, noting that its investment strategy in Bitcoin was responsible for about 90% of that revenue.
