Business intelligence firm Strategy has acquired a whopping $1.92 billion worth of Bitcoin, according to its most recent announcement.
This brings the company’s total Bitcoin holdings to 528,185 BTC ($44.2 billion at current prices). Strategy is, of course, the leading corporate buyer of the cryptocurrency.
The mammoth purchase was widely expected after the company secured an additional $711 million via its preferred stock offering earlier this March.
As reported by U.Today, Strategy co-founder Michael Saylor also teased the massive buy on Sunday.
Strategy (MSTR) shares, however, are still down by more than 4% in pre-market trading after collapsing by 11% on Friday amid a brutal stock market correction.
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The enormous purchase had virtually no impact on the price of Bitcoin. The cryptocurrency is trading at $82,098 after previously dipping to $81,362.
Source: https://u.today/breaking-strategy-buys-nearly-2-billion-worth-of-bitcoin