Strategy Shrugs Off Israel-Iran Tensions, Adds Another $1 Billion In Bitcoin To Its Treasury ⋆ ZyCrypto
The post Strategy Shrugs Off Israel-Iran Tensions, Adds Another $1 Billion In Bitcoin To Its Treasury ⋆ ZyCrypto appeared on BitcoinEthereumNews.com. Advertisement     As the old adage goes: If a market does not fall too much on bad news, it indicates big players are probably going long. The saying holds true for Bitcoin treasury company Strategy, which on Monday announced it had expanded its holdings with a new 10,100 BTC buy amid escalating geopolitical tensions in the Middle East. The price of Bitcoin, meanwhile, climbed above the $107,000 level on Monday following a volatile weekend. Strategy Boosts Bitcoin Bet With Additional 10,100 BTC Purchase Strategy — formerly MicroStrategy — said it bought 10,100 BTC last week for approximately $1.05 billion at an average price of $104,080 per digital coin, with Bitcoin slumping from $110,000 last Monday to $103,639 lows on June 12 after news that Israel had bombed Iran rattled the markets. According to CoinGecko data, the world’s largest cryptocurrency was trading at $107,938 as of press time, up 2.3% in the past 24 hours. The Tysons, Virginia-based software company is the largest corporate holder of the cryptocurrency, and now focuses on buying the asset — at its highs and lows — so that investors can get exposure to Bitcoin via its Nasdaq-listed shares. Advertisement   Strategy now holds a total of 592,100 BTC, worth over $63 billion. The total stash was purchased at an average price of $70,666 per BTC for a total cost of roughly $41.8 billion, including fees and expenses. That’s equal to around 2.8% of Bitcoin’s total 21 million supply. Please leave some for the rest of us. You bought our entire stack in 1 week
The post Strategy Shrugs Off Israel-Iran Tensions, Adds Another $1 Billion In Bitcoin To Its Treasury ⋆ ZyCrypto appeared on BitcoinEthereumNews.com.
Advertisement As the old adage goes: If a market does not fall too much on bad news, it indicates big players are probably going long. The saying holds true for Bitcoin treasury company Strategy, which on Monday announced it had expanded its holdings with a new 10,100 BTC buy amid escalating geopolitical tensions in the Middle East. The price of Bitcoin, meanwhile, climbed above the $107,000 level on Monday following a volatile weekend. Strategy Boosts Bitcoin Bet With Additional 10,100 BTC Purchase Strategy — formerly MicroStrategy — said it bought 10,100 BTC last week for approximately $1.05 billion at an average price of $104,080 per digital coin, with Bitcoin slumping from $110,000 last Monday to $103,639 lows on June 12 after news that Israel had bombed Iran rattled the markets. According to CoinGecko data, the world’s largest cryptocurrency was trading at $107,938 as of press time, up 2.3% in the past 24 hours. The Tysons, Virginia-based software company is the largest corporate holder of the cryptocurrency, and now focuses on buying the asset — at its highs and lows — so that investors can get exposure to Bitcoin via its Nasdaq-listed shares. Advertisement Strategy now holds a total of 592,100 BTC, worth over $63 billion. The total stash was purchased at an average price of $70,666 per BTC for a total cost of roughly $41.8 billion, including fees and expenses. That’s equal to around 2.8% of Bitcoin’s total 21 million supply. Please leave some for the rest of us. You bought our entire stack in 1 week
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