Strategy has acquired a significant amount of Bitcoin in its latest purchase, adding more than 1.5 billion dollars worth of the cryptocurrency to its holdings.
Company chairman Michael Saylor announced on social media that the firm bought 22,337 BTC for approximately 1.57 billion dollars. The purchase price averaged about 70,194 dollars per Bitcoin.
Following this acquisition, Strategy now holds a total of 761,068 BTC. The company’s average purchase price across its holdings is estimated to be around 75,696 dollars per Bitcoin.
The large purchase may have contributed to the recent upward movement in the market. Earlier in the day, Bitcoin climbed above the 74,000 dollar level, helping lift the broader cryptocurrency market.
Institutional demand has also remained strong in recent days. The spot Bitcoin exchange traded fund managed by BlackRock, known as the iShares Bitcoin Trust ETF, has recorded positive inflows for five consecutive days and has accumulated more than 600 million dollars worth of Bitcoin during that period.#crypto#cryptonewshttps://t.me/coinsignalpublic https://coinsignals.net
