MicroStrategy, the Virginia-based software company that recently adopted the brand name Strategy, disclosed its purchase in a 23 June filing with the U.S. SEC.
MicroStrategy, the Virginia-based software company that recently adopted the brand name Strategy, disclosed in a 23 June filing with the U.S. Securities and Exchange Commission that it bought 245 Bitcoin for about $26 million between 16 and 22 June. The tokens were acquired at an average price of roughly $105,856 apiece.
The latest purchase lifts the firm’s treasury to 592,345 Bitcoin, worth close to $60 billion at current market prices, and raises its cumulative average acquisition cost to $70,681 per coin. It is the company’s second-smallest weekly buy this year but extends an eleven-week streak of acquisitions that has seen it spend more than $6 billion on the cryptocurrency since mid-April.
Executive Chairman Michael Saylor coupled the filing with renewed calls for a national Bitcoin strategy, arguing that the United States should aim to secure as much as 20 percent of the fixed 21-million-coin supply. “The first nation to print its own currency to buy Bitcoin wins,” he said in recent public remarks.
MicroStrategy’s incremental purchase comes as Bitcoin hovers near $102,000 after briefly falling below $100,000 over the weekend amid escalating hostilities between Iran and Israel. The geopolitical tension has weighed on risk assets and bolstered demand for traditional havens such as gold, yet the software firm continues to deepen its bet on the world’s largest digital asset.
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Source: https://thedefiant.io/news/markets/microstrategy-adds-245-bitcoin-26-million-holdings-top-592000-46bd7b62