Strategy Buys More Bitcoin Despite Signaling Potential Sales
Strategy Buys More Bitcoin Despite Signaling Potential Sales Strategy (NASDAQ: $MSTR) has continued to purchase Bitcoin (CRYPTO: $BTC) despite signalling in recent days that it might sell some of its holdings in the largest cryptocurrency. Michael Saylor, the executive chairman of Strategy, announced on social media that the company purchased 535 Bitcoin for $43 million U.S. over the past week. The average price of the latest BTC purchases was $80,340 U.S. per crypto. Strategy remains the largest publicly traded corporate holder of Bitcoin in the world. The purchases bring the company’s total holdings of Bitcoin to 818,869, acquired for $61.86 billion U.S. The average cost basis of the crypto holdings was $75,540 U.S. More From Cryptoprowl: Saylor said that last week’s BTC purchases were funded by $42.9 million U.S. raised through sales of the company’s common stock. The latest purchases come despite Strategy saying in its first-quarter earnings call that it was prepared to sell Bitcoin to repay convertible debt or fund its dividend payments. Many analysts had taken the comments concerning potential Bitcoin sales as a sign of a shift in the company’s strategy. However, according to Saylor’s comments, Strategy remains focused on BTC purchases. Despite rallying from a low of $60,000 U.S. in February of this year, Bitcoin’s price remains down 35% from an all-time high of $126,000 U.S. reached in early October last year.
