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Strategy Buys 245 BTC for $26M Amid Geopolitical-Driven Market Dip
- Strategy acquired 245 BTC for $26 million during a geopolitical-driven market dip.
- Total BTC holdings now stand at 592,345, worth $41.87 billion at a $70,681 average cost.
- Michael Saylor’s Strategy disclosed the purchase of 245 BTC in a U.S. SEC filing on June 23, bought at an average price of $105,856.
- Despite market volatility, Strategy continues its accumulation strategy, acquiring Bitcoin even as prices retreat.
- The acquisition, funded through an equity offering program, came as Bitcoin dipped from $108,900 to near $99,000.
- Strategy sold preferred shares to raise $17 million and issued new shares for $8.7 million, financing the $26 million BTC purchase.
- The move maintained Strategy’s year-to-date BTC yield at 19.2%, inching closer to its revised YTD target of 25% by 2025.
- While observers questioned the scale of the purchase, Saylor’s strategy remains consistent in accumulating BTC regardless of short-term price fluctuations.
- Saylor believes Bitcoin is a long-term store of value, affirming a bold forecast of $21 million per BTC within 21 years.
- Bitcoin prices saw a slight recovery after hitting weekend lows, with BTC currently trading near $101,654, a 0.71% increase in 24 hours.
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