Saylor’s Strategy Buys Another $427M Worth of BTC With Money it Can’t Afford to Lose

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After another hint posted on Sunday, Strategy’s co-founder and former CEO, Michael Saylor, has announced that the company has acquired 4,020 BTC for almost $430 million.

The average price of the latest accumulation was $106,237, which means that it was probably executed somewhere at the start of the previous week because the asset skyrocketed to a new all-time high above $109,000 on Wednesday and hasn’t slipped to Strategy’s entry price since.

The world’s largest corporate holder of bitcoin continues to expand its massive stash, which is now at 580,250 BTC. It was acquired for a little over $40.6 billion over the span of almost five years at an average price of $69,979 per BTC.

Given the cryptocurrency’s massive ascent, including the aforementioned new all-time high from last week and current price tag of roughly $110,000, Strategy’s holdings are now valued at almost $64 billion. This means that the firm stands on a paper gain of over $23 billion.

Today’s announcement came after another hint posted during the weekend by Saylor, in which he said he only buys BTC with money he “can’t afford to lose.”

Interestingly, the company’s stock price has failed to mimic BTC’s surge last week and dropped from a high of $420 to under $370 at Friday’s close. Yahoo data shows that MSTR is about to open on Monday in the red following a 1% slip in after-hours trading.

The post Saylor’s Strategy Buys Another $427M Worth of BTC With Money it Can’t Afford to Lose appeared first on CryptoPotato.

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