Strategy steps up Bitcoin buys with 8,178 BTC purchase
After weeks of reporting Bitcoin purchases hovering around 400 to 500 BTC, Michael Saylor’s company announced a massive crypto investment on Monday.
The company behind the largest Bitcoin treasury announced it had returned to buying large amounts of the cryptocurrency following a $835 million purchase.
In a Monday filing with the US Securities and Exchange Commission, Michael Saylor’s Strategy reported acquiring 8,178 Bitcoin (BTC) for about $835 million. The purchase represented a significant increase compared to the company’s BTC investments in October and earlier in November, which it reported to be about 400-500 coins per week.
The acquisition came amid significant volatility in the price of Bitcoin. According to data from Nansen, BTC price fell by about 11% in the previous seven days, reaching $94,191 at time of publication.