Relentless Bitcoin Accumulation: Strategy Snaps Up 1,045 More BTC
MicroStrategy, now rebranded as Strategy, acquired 1,045 Bitcoin this week, raising its average purchase price to $70,086. The company has invested over $40 billion in Bitcoin and is seeking additional financing for future purchases. Strategy's recent buying strategy involves smaller, regular purchases to minimize market impact and maintain visibility. The firm utilized $62.7 million from STRK and $43.3 million from STRF stocks for these acquisitions, avoiding new common shares. Corporate treasuries currently hold approximately 3.4 million BTC, reducing available supply on the market. Over-the-counter inventories have decreased significantly, with only 123,500 BTC available now. Strategy's influence is notable, as only 26 public companies hold over 1,000 BTC. Recent small-scale purchases by other firms have generated social media attention, contributing to a sense of scarcity in the market despite high average prices and potential risks from price fluctuations and interest rates.
