Strategy resumes bitcoin acquisition, buying the dip
As usual, not long after CEO Michael Saylor hinted that Strategy would buy more bitcoin, it announced it acquired 3,459 bitcoin at roughly $82,618 for a total cost of $285.8 million. Bitcoin was up this morning, hovering just below $85,000. Shares of Strategy also rose in early trading.
The bitcoin holding company now has 531,644 bitcoin in its reserve, far more than any other corporation or even the US government. This is the first time the company has purchased the asset since March 31, as well as the first time since it said it would incur a $5.9 billion unrealized loss on its digital assets in the first quarter.
Strategy has never sold a single bitcoin since it starting accumulating it in August 2020. Saylor has been pretty vocal about the fact that none of the chaos caused by the tariffs’ ever-evolving situation is bothering him, even adding that “Bitcoin is powered by Chaos.”
Tariffs turmoil and extremely volatile markets also didn’t deter Metaplanet from buying bitcoin. The Japanese company, which is emulating Saylor’s strategy, bought 319 bitcoin. As of today, it now holds 4,525 bitcoin in its reserve.
