Michael Saylor’s Strategy acquires $100M in Bitcoin amid Fed rate cut
Strategy’s latest $99.7 million Bitcoin acquisition brought its total Bitcoin holdings to 639,835 BTC, acquired for about $47.3 billion.
Michael Saylor’s Strategy, the world’s largest corporate Bitcoin holder, added more BTC to its balance sheet last week as the US Federal Reserve cut interest rates for the first time this year.
Strategy acquired 850 Bitcoin (BTC) for $99.7 million during the week ending Sunday, according to a US Securities and Exchange Commission filing on Monday.
The purchase was made at an average price of $117,344 per coin as BTC briefly surged to multi-week highs above $117,000 on Thursday following the Fed’s 25 basis point interest rate cut, according to CoinGecko data.