Good day everyone,
I hope you are all having a good day, welcome to CryptoGod-1's blog on all things crypto. In this post I will be looking at how Strategy managed to nab a further 13,390 Bitcoin to add to their stockpile.
Strategy Acquire Another 13,390 Bitcoin
Michael Saylor's Strategy have announced the acquisition of a further 13,390 Bitcoin as part of their latest buy-up of the cryptocurrency. It continues Saylor's vision as Strategy now have more than half a million Bitcoin under their control. As part of a May 12 filing with the United States States Securities and Exchange Commission (SEC) the conferment of the purchase by the Virginia-based software firm at $99,856 per Bitcoin means the total cost came in at $1.34 billion.
With Strategy now owning 568,840 Bitcoin, the overall purchase cost has come in at $39.41 billion or $69,287 per Bitcoin,. Saylor stated as much in a post on X as the orgnaisation has stockpiled Bitcoin since Saylor's vision back in 2020 began. The news came about as crypto markets surged following an announcement from the White House that the United States and China will enact a three-month pause on current tariffs in hopes of finding a long-term solution.
The press release from the White House stated:
“For too long, unfair trade practices and America’s massive trade deficit with China have fuelled the offshoring of American jobs and the decline of our manufacturing sector. In reaching an agreement, the United States and China will each lower tariffs by 115% while retaining an additional 10% tariff during the period of the pause.”
Despite Bitcoin going above $105,000 briefly on May 12, the cryptocurrency has since dropped more than 1.5%. Earlier this year Strategy had suspended purchases of Bitcoin following the announcement of Trump’s “Liberation Day” tariffs that saw global markets collapse into chaos. Back on May 1 Saylor posted on X that the Bitcoin treasury company is up by more than 3,000% since “adopting the Bitcoin standard” and that he is in favour of adopting clear crypto policies in the United States following his attendance at the White House’s Crypto Summit back in March.
https://x.com/saylor/status/1921898712801874273
Have a great day.
Peace. CryptoGod-1.
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