Michael Saylor’s Strategy buys 2,486 bitcoin for $168 million as total holdings reach 717,131 BTC
Strategy acquired 2,486 BTC for $168.4 million, bringing its total holdings to 717,131 BTC.Summary
Strategy, the Bitcoin treasury company, purchased an additional 2,486 BTC for approximately $168.4 million between February 9 and February 16, according to an SEC filing. This acquisition increased their total holdings to 717,131 BTC, acquired at an average price of $76,027 per coin, totaling about $54.5 billion. This represents over 3.4% of Bitcoin's 21 million coin supply and currently carries a mark-to-market loss of approximately $5.7 billion. The purchases were funded by proceeds from at-the-market sales of its Class A common stock (MSTR) and perpetual Stretch preferred stock (STRC).
Executive Chairman Michael Saylor reiterated that Strategy can withstand a significant Bitcoin price drawdown and still cover its debt. Analysts note that Strategy has structured its liabilities conservatively with long-dated preferred equity and ample cash reserves. Saylor remains highly bullish, predicting Bitcoin will outperform the S&P 500 significantly over the next four to eight years.
(Source：The Block)