Strategy Buys 705 Bitcoin for $75.1 Million in May

Strategy, the world’s largest corporate holder of Bitcoin, has concluded its Bitcoin purchases for May with a significant acquisition. The company bought 705 Bitcoin for $75.1 million between May 26 and 30, as announced on June 2. This purchase was made at an average price of $106,495 per coin, during a period when Bitcoin's price fluctuated from $110,000 to an intraweek low of $103,400.

This latest acquisition brings Strategy’s total Bitcoin holdings to 580,955 BTC, acquired for approximately $40.68 billion at an average price of $70,023 per coin. The purchase marks the end of Strategy’s Bitcoin buying spree for the month of May, highlighting the company’s continued commitment to Bitcoin as a strategic asset.

Following the Bitcoin acquisition, Strategy director Jarrod Patten sold 3,750 shares of the company’s Class A stock between May 22 and 29. The sale, worth nearly $1.4 million, was reported in a proposed sale of securities filing on May 30. This sale comes amidst a period of downward pressure on Strategy’s stock, which briefly fell below $360 on both May 28 and May 30. Despite these fluctuations, Strategy’s stock has shown resilience, recovering to close last week at $369 and maintaining a year-to-date gain of roughly 23% and annual gains of 123%.

Strategy’s continued investment in Bitcoin, despite market volatility, underscores the company’s long-term bullish outlook on the cryptocurrency. The acquisition of 705 Bitcoin at an average price of $106,495 per coin, during a period of price decline, demonstrates Strategy’s strategy of buying the dip and accumulating more Bitcoin at lower prices. This approach is consistent with the company’s previous purchases, which have been made at various price points, reflecting a disciplined and methodical approach to Bitcoin investment.

The sale of shares by Strategy director Jarrod Patten, while notable, does not appear to have significantly impacted the company’s overall strategy or its commitment to Bitcoin. The sale was a personal transaction and does not reflect a change in the company’s investment strategy. Strategy’s stock has shown resilience in the face of market volatility, and the company’s long-term gains reflect its successful investment strategy.

In conclusion, Strategy’s latest Bitcoin acquisition and the sale of shares by its director highlight the company’s continued commitment to Bitcoin as a strategic asset. Despite market volatility, Strategy remains bullish on Bitcoin and continues to accumulate more of the cryptocurrency at lower prices. The company’s disciplined and methodical approach to Bitcoin investment has resulted in significant gains, and its long-term outlook on the cryptocurrency remains positive.