Michael Saylor has indicated that Strategy is poised to continue its bitcoin acquisition as market sell-offs persist. In a post shared on X this past Sunday, Saylor showcased the firm’s bitcoin accumulation chart, a recurring element that has previously hinted at upcoming purchases. This particular indication points to what would mark Strategy’s 99th transaction in bitcoin.
The firm’s most recent acquisition took place on Monday, where it purchased 1,142 BTC for over $90 million, boosting its total holdings to 714,644 BTC, a sum valued at approximately $49.3 billion at the time of reporting. The details of these historical holdings can be tracked on Bitbo’s Strategy treasury page.
This announcement comes in the wake of a significant market downturn following an October flash crash, which has resulted in bitcoin dropping below Strategy’s reported average cost basis of $76,000. The dramatic declines can be further explored through Bitbo’s price drawdown charts that illustrate the losses from bitcoin’s all-time high.
Reports from Cointelegraph indicate that the cryptocurrency treasury sector was already experiencing pressure before this recent crash, with numerous firms witnessing their multiple on net asset value (mNAV) fall below the crucial level of 1. In September, Standard Chartered cautioned that several prominent crypto treasury companies had fallen under this threshold, complicating financing and stock issuance efforts.
Earlier this month, Strategy disclosed a staggering Q4 loss of $12.4 billion, resulting in a roughly 17% drop in shares. Although the stock has managed to recoup some of its losses, it closed at $133.88 on Friday. The interplay between Strategy’s stock performance and bitcoin’s fluctuations can be analyzed on Bitbo’s MSTR vs BTC page.
Despite ongoing speculation about whether the firm may pause its accumulation or consider selling its bitcoin holdings amid a broader downturn, Saylor has remained steadfast in his buying strategy.
