Strategy (MSTR) added to its bitcoin holdings, but appears to have made all of its purchases before the sharp drop in prices in the second half of the week.
Led by Executive Chairman Michael Saylor, the company added 1,142 bitcoins for $90 million, an average price of $78,815 each. The strategy stack now stands at 714,644 bitcoins purchased for $54.35 billion, an average price of $76,056 each.
Bitcoin is trading Monday morning at just under $69,000, down 2.6% over the past 24 hours. MSTR shares are down 3.9%.
Last week’s acquisitions were financed through the sale of common stock.
Given the average purchase price of $78,815, it appears that Strategy made its purchases on Monday or Tuesday of last week, ahead of the rapid decline in Bitcoin’s price, which took the crypto as high as $60,000 at one point on Thursday.
