Saylor’s Strategy buys $90M in Bitcoin as price trades below cost basis
Michael Saylor’s Strategy missed Bitcoin’s brief drop to $60,000 last week, purchasing $90 million worth of BTC at an average price near $78,800.
Michael Saylor’s Strategy, the world’s largest public holder of Bitcoin, added another tranche of BTC last week, expanding its holdings without pushing its overall cost basis lower.
Strategy acquired 1,142 Bitcoin (BTC) for $90 million last week, according to a US Securities and Exchange Commission filing on Monday.
The acquisitions were made at an average price of $78,815 per BTC despite Bitcoin trading below that level for most of the week and briefly touching $60,000 on Coinbase last Thursday.