Bitcoin’s price dipped over the past week, but the BTC treasury firm Strategy (MSTR) still opted to buy $66 million worth of the top crypto asset.
Strategy says it accumulated 811 Bitcoin at an average purchase price of $80,846 per BTC, stretching its total holdings to 849,327 BTC.
The firm didn’t add or sell any Bitcoin the week before, but it did stack a total of 3,466 BTC worth $292 million across five consecutive weeks stretching from September to October.
The recent purchases follow a summer in which Strategy controversially conducted its first Bitcoin sales since 2022. Those sales materialized under the company’s newly introduced BTC monetization program, designed to bolster Strategy’s cash reserves and support dividend payments.
On Monday, Strategy chairman Michael Saylor also noted the firm repurchased $208 million worth of STRC, the firm’s perpetual preferred stock that pays 12.00% annual dividends. STRC is designed to have a par value of around $100 and is currently trading at $99.28.
Strategy was the first public company to adopt Bitcoin as its sole treasury reserve asset and remains the world’s largest corporate BTC holder by a wide margin.
Bitcoin is trading at $76,751 at time of writing. The top-ranked crypto asset by market cap is down nearly 1.5% in the past 24 hours and nearly 4% in the past week.
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This post Michael Saylor’s Strategy Buys the Dip, Acquiring $66,000,000 Worth of Bitcoin (BTC) in the Past Week may be modified as updates unfold.
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