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HomeBitcoinStrategy Joins Metaplanet With Another Bitcoin Purchase

Strategy Joins Metaplanet With Another Bitcoin Purchase

Michael Saylor, the BTC brainchild behind Strategy’s corporate strategy, has announced the latest acquisition after hinting about it yesterday.

The NASDAQ-listed firm has spent roughly $100 million to accumulate 850 BTC at an average price of $117,344 per unit.

Strategy now holds 639,835 BTC, bought for $47.33 billion, which means an average price of just under $74,000 per bitcoin. Despite the asset’s price plunge in the past day, the company is still well in the money on its big investment, which is now valued at over $72 billion.

Nevertheless, its stock price is projected to open in the red today, in line with the overall crypto market retracement. MSTR closed at $344.75 on Friday, being up by 15% since the start of the year.

Speaking of Monday bitcoin purchases, Metaplanet outshone its bigger brother as it spent over $630 million to accumulate 5,419 BTC. Consequently, its total stash has risen to 25,555 BTC.

The post Strategy Joins Metaplanet With Another Bitcoin Purchase appeared first on CryptoPotato.

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