SEISMIC ALERT IN BITCOIN!
Strategy (Saylor) PUTS A PAUSE on its BTC purchases for the first time in 3 months
Has the bullish streak ended or is it a "strategic pause" for HODL?
#strategy the company that has led corporate adoption of #bitcoin under the direction of #MichaelSaylor , has paused its acquisitions of #BTC for the first time in three months. The company made no purchases between June 30 and July 6, according to a recent 8-K report filed with the Securities and Exchange Commission #SEC this Monday.
Despite this pause, Strategy maintains an impressive total reserve of 597,325 BTC, valued at over $65 billion dollars. These Bitcoins were acquired at an average price of $70,982 per BTC, representing a total cost of approximately $42.4 billion, including fees and expenses. This vast holding equates to more than 2.8% of the total Bitcoin supply (21 million) and implies paper gains of approximately $22.6 billion dollars.
Michael Saylor himself summarized the situation with a phrase that resonated in the community: "Some weeks you just need to HODL".