Strategy buys 1,142 Bitcoin for $90M at about $78,815 per coin

Michael Saylor’s Strategy added 1,142 Bitcoin last week, spending $90 million at an average price of $78,815 per coin. Bitcoin traded below that level for most of the week and briefly touched $60,000 on Coinbase last Thursday. The purchase brings Strategy’s total holdings to 714,644 BTC, acquired for around $54.35 billion at an average price of $76,056 per coin.

Buying near $79,000 meant the company did not lower the average cost basis of its existing holdings. Bitcoin has traded well below Strategy’s average for almost a week, sliding under $78,000 last Tuesday and failing to climb above $72,000 since, according to Coinbase data.

This marks Strategy’s second acquisition while the market trades below its $76,056 average purchase price. Strategy faced a similar situation in 2022, when Bitcoin fell below $30,000 while its average purchase price was about $30,600; it slowed purchases then but continued making smaller buys below its cost basis.

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