‘Back to Orange’: Strategy buys another 1,229 bitcoin for about $109 million after brief pause
Strategy resumed buying bitcoin, acquiring 1,229 BTC for $108.8 million after pausing to bolster its cash reserves.Summary
Michael Saylor's company, Strategy (MSTR), purchased an additional 1,229 bitcoin between December 22 and December 28 for approximately $108.8 million, averaging about $88,568 per coin, signaling a return to accumulation after a brief pause. These purchases were funded by selling 663,450 shares of MSTR stock under its at-the-market offering program. The pause last week was used to add cash to its USD reserve, which now stands at $2.19 billion to support dividend payments and debt interest. Following this latest acquisition, Strategy now holds 672,497 bitcoin at an average cost basis of roughly $74,997. Analysts have differing views on Strategy's recent cash-building, with some seeing it as preparation for a prolonged downturn, while others believe its resilience is key for Bitcoin's price outlook. Furthermore, the market is awaiting MSCI's decision on January 15 regarding the potential exclusion of companies like Strategy from equity indices.
(Source：The Block)