Strategy Resumes Bitcoin Buying Spree, Acquires $742M in BTC

Strategy, the software company formerly known as MicroStrategy, has resumed its aggressive Bitcoin acquisition strategy with a significant purchase of $742 million. This move comes after a brief hiatus and marks a renewed commitment to the company's substantial Bitcoin holdings, which now total nearly half a million tokens.

Michael Saylor, the company's CEO, announced the purchase on social media, revealing that Strategy now holds 478,740 BTC, valued at approximately $46.5 billion based on current market prices. This latest acquisition bolsters the company's already substantial holdings and underscores its continued interest in the cryptocurrency market.

Strategy's rebranding from MicroStrategy has been accompanied by an unwavering commitment to its investment strategy in Bitcoin. The company's decision to invest $742.4 million in Bitcoin over just seven days demonstrates its aggressive purchasing approach. Since its re-entry into the market from February 3 to February 9, Strategy has acquired 7,633 BTC, marking a notable shift after a 12-week pause during which it did not purchase any Bitcoin.

With its substantial purchase and a total of 478,740 BTC in its possession, Strategy's Bitcoin acquisition strategy has attracted significant attention from both investors and analysts. The firm began accumulating Bitcoin in August 2020, driven by a desire to hedge against inflation. Now valued at around $46.5 billion, these assets highlight the company's level of risk exposure in the cryptocurrency market.

Strategy's ambitious "21/21 Plan" aims to raise $42 billion in total to facilitate further Bitcoin purchases. This plan breaks down into two equal halves, with $21 billion raised through equity and the same amount through the sale of fixed income securities. The firm has disclosed in its filings with the Securities and Exchange Commission that its average purchase price per Bitcoin stands at approximately $65,033.

Despite the impressive growth—investor interest has fueled a remarkable rise of over 2,200% in Strategy's stock price since 2020—some analysts caution against potential overreliance on Bitcoin's performance. This concern arises particularly given the volatility inherent in the cryptocurrency market. Being part of the Nasdaq-100 index alongside major players like Apple and Microsoft, Strategy operates under considerable scrutiny,