Michael Saylor’s Strategy buys another 1,142 BTC for $90 million as total bitcoin treasury value remains below cost
Strategy acquired 1,142 BTC for $90 million, bringing its total holdings to 714,644 BTC, which is currently valued below its average purchase cost.Summary
Strategy, led by Michael Saylor, purchased an additional 1,142 bitcoins for approximately $90 million between February 2 and February 8, as disclosed in an 8-K filing. This acquisition brings Strategy's total Bitcoin holdings to 714,644 BTC, acquired at an average cost of $76,056 per coin, totaling about $54.4 billion. Despite the recent market downturn, the current value of this treasury is approximately $49 billion, implying about $5.2 billion in paper losses relative to cost. The latest purchases were funded by proceeds from at-the-market sales of its Class A common stock (MSTR). Strategy CEO Phong Le stated that Bitcoin would need to drop to $8,000 and stay there for five to six years before posing a threat to servicing the company's convertible debt. Analysts remain positive, noting that Strategy is well-positioned to weather downturns due to conservative liability structuring, including long-dated debt maturities.
(Source：The Block)