Outside Source
- Strategy, formerly MicroStrategy, has announced the purchase of another 7,633 Bitcoin (BTC).
- The company spent $742.4 million to bring its total investment to $31.1 billion and 478,740 BTC.
Strategy, formerly MicroStrategy, has added more than $742 million worth of Bitcoin (BTC) to its holdings.
The publicly-traded company’s founder and executive chairman Michael Saylor announced on Monday, Feb. 10 that Strategy had acquired 7,633 bitcoin. Strategy spent approximately $742.4 million to buy the new BTC haul, with each coin scooped at the average purchase price of $97,255 per bitcoin.
Strategy resumes BTC purchases
After a slight pause in its buying spree and undertaking a brand overhaul, the company is back to its super bullish ways. The 7,633 BTC brings Strategy’s total bitcoin holdings as of February 9, 2025 to 478,740 BTC.
The world’s largest corporate holder of Bitcoin has spent about $31.1 billion to stack the flagship digital asset, acquiring these at the average price of $65,033 per BTC.
Strategy has raised funds from share offerings, with the target being billions of dollars. Despite its fourth-quarter results showing a net loss of $3.03 per share, the company has doubled down on its investment and strategy.
Bitcoin rose to an all-time high above $109k on January 20, 2025, this coming as the crypto market celebrated Donald Trump’s inauguration.
While the price has struggled since and hovered below $98k on Feb. 10, analysts are bullish. Saylor’s prediction isthat BTC could hit the $13 million mark by 2045. Other forecasts have short term projections of $200k in 2025.
This article first appeared at CoinJournal: Latest Crypto News, Altcoin News and Cryptocurrency Comparison
