The world’s largest corporate holder of Bitcoin has taken advantage of the recent market slump to increase its BTC holdings below $70,000.
Strategy’s co-founder, Michael Saylor, announced that the company purchased 2,486 BTC for nearly $170 million at an average price of $67,710 per coin. This brings the firm’s total Bitcoin holdings to 717,131 BTC, acquired at an average price of $76,027 per unit.
Despite these purchases, the recent cryptocurrency decline has put Strategy’s position into the red. With Bitcoin trading around $68,000 at the time of reporting, the company’s holdings are valued at less than $49 billion, resulting in an unrealized loss of over $5 billion. This marks the first time the firm has been in a negative position since the end of the 2023 bear market.
Strategy has maintained that it has no intention of selling any Bitcoin, even amid ongoing volatility. Its stock price has also reflected broader market fluctuations, dropping from $140 to $120 last week before stabilizing near $134.
