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Strategy (previously Microstrategy), the main holder of the Bitcoin company (BTC), is about to reach an important step as approaching the acquisition of 600,000 tokens.
In its last decision, the company bought 4,980 bitcoin between June 23 and June 29 for an average price of $ 106,801 each, totaling approximately $ 531.9 million. This last purchase brought the company’s total Holdings of the company to 597,325, acquired for around 42.4 billion dollars.
The strategy shares an increase of 4.7%
Although the Bitcoin price remains relatively stable at around $ 107,000 and $ 107,500 in the last 24 hours, the stock’s stocks, Mstrincreased by 4.7% to $ 402.07 on Monday, reflecting the confidence of investors in the financial measures of the company. The value of the Strata Bitcoin holdings now amounts to around $ 64 billion.
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The financing of these latter acquisitions came by the sale of actions in various offers of the brand. Reference analyst Mark Palmer noted that the Bitcoin yield of the company, which measures the variation in the ratio of its Bitcoin assets in total of the actions in circulation, was 19.7% between January 1 and June 29.
The president of the strategy, Michael Saylor, who is often considered one of the most vocal defenders in Bitcoin, referred to the recent purchase in an article on social networks this weekend.
He declared“In 21 years, you will want you to buy more”, alongside a graph illustrating the performance of the Bitcoin portfolio of Strategment from its initial investment at the end of 2020, which shows aggressive purchases that have increased in the past year.
Bitcoin Price oscillates around $ 107,000
Interestingly, the company had made a smaller purchase of 245 bitcoins between June 16 and 22, considerably less than its usual mass acquisitions.
For the context, the strategy had previously acquired 10,100 bitcoins in just six days during the period from June 9 to 15. market conditions.
During the last month, the main cryptocurrency of the market experienced a noticeable hint of volatility with prices having failed to tackle at its current record price of $ 111,800 affected at the gathering last month.
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Since then, Bitcoin has managed to undergo subsequent price reductions, with the most recent dive BTC To the $ 98,000 area. However, the cryptocurrency managed to record a 2.4% recovery on the weekly time, currently consolidating at $ 107,000.
Originally founded as a corporate software company, Strategy turned into a lever effect game on Bitcoin, allowing investors to expose themselves to cryptocurrency without having it directly.
Since August 2020, the company has always increased its Bitcoin reserves by selling actions and debt. This has aroused criticism from analysts who believe that it could be dangerous if the price of bitcoin drops below the average purchase price of the company.
Dall-e star image, tradingView.com graphic
