‘Orange is the color of November’: Strategy buys another 397 bitcoin for $45.6 million

Strategy, a Bitcoin treasury company, purchased an additional 397 BTC between October 27 and November 2 for approximately $45.6 million, averaging $114,771 per coin, as detailed in an 8-K filing. This purchase increased Strategy's total holdings to 641,205 BTC, valued at about $69 billion, representing over 3% of Bitcoin's total supply. The acquisition was funded using proceeds from at-the-market sales of its various preferred and common stock instruments (MSTR, STRK, STRF, STRD). Michael Saylor, the company's executive chairman, had previously hinted at the purchase by tweeting, "Orange is the color of November." Despite the ongoing accumulation, Strategy's stock performance has lagged Bitcoin year-to-date, and the company's Q3 profit dropped significantly from its record Q2 results, although still beating analyst expectations.

(Source：The Block)