Strategy (previously known as Microstrategy) expanded its Bitcoin holdings last week, purchasing an additional 3,273 BTC for approximately $255 million, even as analysts flagged concerns about the sustainability of the recent price rally. The acquisition, disclosed in an 8-K filing with the US Securities and Exchange Commission, was made at an average price of $77,906 per bitcoin between April 20 and April 26. The latest purchase brings Strategy’s total holdings to 818,334 BTC, valued at roughly $63.7 billion. The company’s average purchase price stands at $75,537 per bitcoin, translating to a total cost basis of about $61.8 billion, including fees and expenses, according to co-founder and executive chairman Michael Saylor. This stash represents about 3.
Source: Read the original article
