Running Out of Steam? Strategy Makes its Smallest BTC Purchase in Months

The company's total stash is nearing the 500,000 BTC mark.

After months and months of accumulating massive portions of BTC, Strategy – the world’s largest corporate holder of the biggest cryptocurrency, has now spent a more modest $10.7 million in its latest acquisition.

By adding 130 BTC, the firm has now neared the 500,000 BTC target.

The company, formerly known as MicroStrategy, now owns 499,226 BTC, which it purchased for approximately $33.1 billion at an average price of $66,360 per bitcoin.

The latest acquisition came at an average price of just under $83,000, which has been bitcoin’s trading price for the past week or so, aside from brief fluctuations to below $80,000 and to $85,000 during the weekend.

The $10.7 million spent comes in stark contrast to many of the previous purchases completed by the company, which was founded by Michael Saylor. Recall that some of those instances were for multi-billion dollars.

More recently, Strategy outlined a plan to allocate $21 billion in BTC over the next several years by raising funds through the sale of Series A Perpetual Strike Preferred Stock.

You may also like:

Its stock experienced a substantial crash in the past several weeks, alongside BTC’s price, and it went down toward $230. However, it bounced off and closed on Friday at almost $300.

Author icon

About the author

Jordan Lyanchev
Contact:

Jordan got into crypto in 2016 by trading and investing. He began writing about blockchain technology in 2017 and now serves as CryptoPotato's Assistant Editor-in-Chief. He has managed numerous crypto-related projects and is passionate about all things blockchain.