Strategy buys Bitcoin again this week despite the heavy environment for the firm.$BTC
Strategy, the company of Bitcoin evangelist Michael Saylor, once again made a massive purchase of BTC despite the tense moment the firm is going through. It is noteworthy that this is a heavy purchase aimed at restoring investor confidence in the firm's ability to raise capital.
According to the corresponding document submitted to the SEC, this new purchase corresponds to 10,645 bitcoins. These coins were purchased for a total amount of $980.3 million. The average purchase price is $92,048 for each of these new coins that increase the company's corporate reserves.
Following this new acquisition of coins, the firm's BTC strategy now has a return of +24.79% so far this year. Likewise, its total reserves in the largest cryptocurrency amount to 671,268 BTC, which have a purchase value of $50.33 billion and an average price of $74,972 per coin.
At the time of writing this note, these reserves have a market value of $59.96 billion. This massive Bitcoin purchase by Strategy once again highlights the firm's ability to access public capital that supports its treasury strategy.
However, purchases by this company are almost a rarity in the cryptocurrency treasury sector. Few companies continue to buy due to the lack of interest from capital in the sector for several months.
