Strategy Joins Metaplanet With Another Bitcoin Purchase

Michael Saylor, the BTC brainchild behind Strategy’s corporate strategy, has announced the latest acquisition after hinting about it yesterday.

The NASDAQ-listed firm has spent roughly $100 million to accumulate 850 BTC at an average price of $117,344 per unit.

Strategy now holds 639,835 BTC, bought for $47.33 billion, which means an average price of just under $74,000 per bitcoin. Despite the asset’s price plunge in the past day, the company is still well in the money on its big investment, which is now valued at over $72 billion.

Nevertheless, its stock price is projected to open in the red today, in line with the overall crypto market retracement. MSTR closed at $344.75 on Friday, being up by 15% since the start of the year.

Speaking of Monday bitcoin purchases, Metaplanet outshone its bigger brother as it spent over $630 million to accumulate 5,419 BTC. Consequently, its total stash has risen to 25,555 BTC.

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Source: https://cryptopotato.com/strategy-joins-metaplanet-with-another-bitcoin-purchase/