Michael Saylor’s strategy has just announced a new purchase of Bitcoin, suggesting that the drop in prices has not prevented the business from buying more.
The strategy has made a new addition to its Bitcoin treasure
As announced by the president of the strategy Michael Saylor in a new position on X, the company has completed a new Bitcoin acquisition involving 3,018 BTC. The company bought these parts for $ 356.9 million or an average price of $ 115,829 per token.
According to the file with the Securities and Exchange American Commission (SEC), the purchase occurred between August 18 and 24. This is the same window in which BTC faced a dewritten. Thus, it seems that the company has not been dissuaded by the lower price action.
In fact, the purchase of the company this week was much higher than the purchase of last week, which involved an amount of 430 BTC ($ 51.4 million), or that of the previous week, at 155 BTC.
After the last acquisition, Total Bitcoin Holdings of Strategy increased to 632,457 BTC. At the current exchange rate, this converts nearly $ 71.1 billion, or nearly 53% above the company’s cost base of $ 46.5 billion.
The balance of loss of profit from Bitcoin holdings is not the only thing the company is doing well. As Saylor shared it in an X Post, the strategy has also shown an impressive stock performance.
The performance of MSTR against other asset classes in terms of annualized returns | Source: @saylor on X
“Five years ago, $ MSTR adopted the Bitcoin standard. Since then, we have surpassed each asset class and each magnificent stock 7, ”explains the president of the strategy. The success of the Saylor firm launched a trend in other companies also adopting a BTC cash strategy.
An example of this is the Metaplanet of Japan. Led by President Simon Gerovich, the company has always bought BTC as well as a strategy. Sunday, Gerovich unveiled a new purchase of 103 BTC ($ 11.7 million), which brought the company’s reserve to 18,991 BTC (acquired for a total of $ 1.95 billion).
The Treasury Strategy Wave has now expanded to Altcoins, Sharplink being a leading example. The company’s Ethereum assets are currently 740,760 ETH. Now News has revealed that Galaxy Digital, Jump Crypto and Multicoin Capital provide for a frenzy of solana accumulation of a billion dollars for a soil treasure.
In some other news, the Bull Cryptochant’s score index currently signals the market as entering a lower phase, as explained by a post X by Julio Moreno, cryptotic research manager. The bull score index combines different chain measures to determine the part of the cycle that Bitcoin is currently.
The trend in the BTC Bull Score Index over the past year | Source: @jjcmoreno on X
As displayed in the above graph, the Bitcoin indicator recently dropped. “The bull score index is now 40 years old and has moved to the” Getting Bearish “phase,” notes Moreno.
BTC price
Bitcoin’s Bitcoin form continued in the last day, because its price fell at $ 110,900.
Looks like the price of the coin has been on the way down recently | Source: BTCUSDT on TradingView
Dall-E, Cryptoquant.com star image, tradingView.com graphic
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