Strategy founder Michael Saylor published data on the company’s Bitcoin strategy with the comment “More orange than ever,” hinting at an upcoming massive purchase. Strategy has accumulated 847,666 BTC, representing approximately 4.04% of Bitcoin’s total supply, with total historical spending of $63.95 billion and an average purchase price of $75,442.45 per coin. At current market prices, the reserves are valued at $72.20 billion, representing unrealized net profit exceeding $8.25 billion. Since the start of the year, the portfolio has grown by 26.05%, adding 175,169 BTC, with the company’s shares trading at a 14% premium to the value of its net crypto reserves. Citigroup analysts raised their price target for MSTR shares to $240, while the exact size of the new purchase will be disclosed in upcoming regulatory filings.
Source: Read the original article
