In a strategic move during the typically quiet holiday season, Strategy (NASDAQ:MSTR) has expanded its cryptocurrency holdings, acquiring 1,229 bitcoin between December 22 and December 28. The company invested approximately $109 million in this latest purchase, despite a slowdown in market activity during that period.
According to a recent SEC filing, these acquisitions were executed at an average price of roughly $88,600 per bitcoin, funded through a common stock offering. With this latest purchase, Strategy’s total bitcoin portfolio has grown to an impressive 672,497 tokens, now valued at around $50.4 billion. This hefty investment reflects a calculated approach, especially considering the overall market’s fluctuations over the past year. The company’s average purchase price for bitcoin remains just under $75,000, ensuring that it stays solidly profitable despite the cryptocurrency’s unpredictable performance.
Notably, the timing of this purchase was strategic, as Strategy chose to conserve cash in the week leading up to these acquisitions, opting not to purchase any bitcoin during that time. At the moment of reporting, bitcoin was trading near $87,000, while shares of Strategy experienced a slight decline in premarket trading.
This bold approach underscores the company’s belief in the long-term value of bitcoin, demonstrating that even during traditionally slow trading weeks, such as the holidays, opportunities remain for astute investors like Michael Saylor’s firm.
