Strategy adds 15,355 Bitcoin for $1.4 billion, bringing stack to 553,555 BTC

Key Takeaways

  • Strategy acquired 15,355 Bitcoin for $1.4 billion, increasing its holdings to 553,555 BTC.
  • The acquisition was funded by selling shares.

Strategy, the largest corporate holder of Bitcoin, announced on Monday that it had acquired an additional 15,355 Bitcoin for approximately $1.4 billion. The purchases, made between April 20 and April 27, were executed at an average price of $92,737 per coin.

This latest acquisition brings Strategy’s total Bitcoin holdings to 553,555 BTC, valued at roughly $52.7 billion at current market prices. As of press time, Bitcoin is trading near $95,300, according to TradingView data.

This marks the third consecutive week Strategy has added to its Bitcoin reserves. Just last week, the company reported purchasing 6,556 BTC during the week ending April 20.

Bitcoin’s rally to $95,300 has supercharged Strategy’s Bitcoin gains. From a total investment of $33.7 billion at an average price of $62,600 per coin, the company’s holdings are now locking in approximately $15 billion in unrealized gains on paper.

The announcement follows a post from Michael Saylor on Sunday highlighting Strategy’s Bitcoin portfolio tracker, often interpreted by the market as a precursor to a major acquisition update.

Shares of Strategy (MSTR) are up 1.6% in pre-market trading Monday, following a 5% gain last Friday, according to Yahoo Finance.

Source: https://cryptobriefing.com/bitcoin-acquisition-strategy-major-buy/