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 the latest acquisition by Strategy, taking their Bitcoin holdings to $37.9 Billion.
Strategy up to $37.9 Billion in Bitcoin
Michael Saylor's Strategy announced in a April 28 filing with the United States Securities and Exchange Commission (SEC) that they have acquired nearly $1.5 billion worth of Bitcoin, taking their total holdings to 553,555 Bitcoin. The Bitcoin was purchased between April 21 and April 27. This currently sits at nearly $38 billion in value as they continue to build their Bitcoin reserves.
The Virginia-based software firm purchased 15,355 worth of Bitcoin valued at $92,737 each for a cumulative total of $1.42 billion. This means the average cost per coin has come in at $68,459. Last week the firm had purchased a little more than $555 million worth of Bitcoin after they had taken a brief pause in building their totals. Even though the U.S. dollar has weakened in the aftermath of President Donald Trump’s “Liberation Day” tariff policies there has been a rally in Bitcoin with its price currently hovering around $94,000.
https://www.coingecko.com/en/coins/bitcoin
Saylor was the key figure in leading the firm towards purchasing Bitcoin back in 2020 and he has long been a strong believer in the digital asset. As part of his April 28 post announcing the purchase Saylor noted:
“When banks finally bless Bitcoin and the experts agree it’s a good idea, everyone will want to buy it, no one will need to sell it, and you won’t be able to afford it.”
Given that Strategy now own around 2.6% of Bitcoin's total 21 million supply they are sitting on around $14 billion of paper gains after fees and expenses are accounted for. These latest Bitcoin were bought using proceeds from the sale of its class A common stock, MSTR, and perpetual strike preferred stock, STRK. As of April 27, just $128.7 million worth of MSTR shares now remain available for issuance and sale under that program.
Have a great day.
Peace. CryptoGod-1.
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