Michael Saylor’s company Strategy has expanded its already massive Bitcoin treasury, scooping up another 196 BTC last week in a move worth $22.1 million.
The purchase, disclosed in a U.S. Securities and Exchange Commission filing, was made at an average price of $113,048 per coin.
Bitcoin briefly dipped below $110,000 during the week but has since rebounded to trade above $112,000.
With this latest addition, Strategy now controls 640,031 BTC. The firm’s total investment stands at roughly $47.35 billion, at an average entry of $73,983 per Bitcoin.
Despite smaller recent purchases compared to earlier aggressive buys, the company continues to strengthen its position as the world’s largest public holder of the cryptocurrency.
Saylor, who has long promoted Bitcoin as a superior store of value, recently suggested that the current consolidation is temporary.
He expects market conditions to improve into the final months of the year as institutional demand continues to build.
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Source: https://coindoo.com/worlds-largest-corporate-bitcoin-holder-expands-treasury-with-22m-buy/