Bitcoin Price Pumps Above $120,000 As Michael Saylor’s Strategy Buys $18 Million Worth Of Bitcoin
Bitcoin Magazine Bitcoin Price Pumps Above $120,000 As Michael Saylor’s Strategy Buys $18 Million Worth Of Bitcoin Strategy, formerly MicroStrategy, purchased 155 BTC worth $18 million at an average Bitcoin price of $116,401 per coin, bringing its total holdings to 628,946 BTC as Bitcoin price trades above $120,000. The purchase marks the fifth anniversary of Strategy's Bitcoin treasury strategy, which began with a $250 million investment in 2020. This post Bitcoin Price Pumps Above $120,000 As Michael Saylor’s Strategy Buys $18 Million Worth Of Bitcoin first appeared on Bitcoin Magazine and is written by Vivek Sen.
Bitcoin Magazine
Bitcoin Price Pumps Above $120,000 As Michael Saylor’s Strategy Buys $18 Million Worth Of Bitcoin
Bitcoin price hit $122,290 on Sunday night right before Strategy, formerly known as MicroStrategy, announced the acquisition of 155 BTC worth $18 million, marking the fifth anniversary of its groundbreaking Bitcoin treasury strategy. The purchase, made at an average Bitcoin price of $116,401 per coin, brings the company’s total holdings to 628,946 BTC, representing approximately 3% of Bitcoin’s total supply.
According to an SEC filing on Monday, Strategy used proceeds from its STRF ATM (At-The-Market) offering and its previously completed initial public offering of Variable Rate Series A Perpetual Stretch Preferred Stock to fund the purchase. The company’s aggregate Bitcoin investment now stands at $46.1 billion, with an average purchase price of $73,288 per coin.
“If you don’t stop buying Bitcoin, you won’t stop making money,” Strategy’s Chairman Michael Saylor posted on X on Sunday, reflecting on the company’s journey since its first Bitcoin purchase on August 11, 2020, when it acquired 21,454 BTC for $250 million at roughly $11,400 per coin.
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