Strategy Buys 705 Bitcoin for $75.1 Million Amid Price Fluctuations

Strategy, the world’s largest corporate holder of Bitcoin, has expanded its holdings by acquiring an additional 705 Bitcoin for $75.1 million. This purchase, made between May 26 and 30, brings the company's total Bitcoin holdings to 580,955 BTC. The acquisition was executed at an average price of $106,495 per coin, reflecting a strategic move during a period when Bitcoin prices fluctuated, dropping from $110,000 to an intraweek low of $103,400.

The latest purchase marks Strategy's eighth Bitcoin acquisition this year, demonstrating the company's continued commitment to increasing its Bitcoin reserves. The total cost of Strategy's Bitcoin holdings now stands at approximately $40.68 billion, with an average purchase price of $70,023 per coin. This significant investment underscores Strategy's confidence in Bitcoin as a long-term store of value and a hedge against inflation.

The acquisition comes on the heels of a series of Class A share sales by Strategy director Jarrod Patten. Between May 22 and 29, Patten sold 3,750 shares, valued at nearly $1.4 million. This move, however, did not deter Strategy from its Bitcoin buying spree, indicating a clear focus on digital asset accumulation despite internal share transactions.

Strategy's latest Bitcoin purchase is a testament to its unwavering belief in the potential of cryptocurrencies. The company's strategy of acquiring Bitcoin during price dips and holding onto it for the long term has positioned it as a leader in the corporate adoption of digital assets. As Bitcoin continues to gain mainstream acceptance, Strategy's substantial holdings are likely to further solidify its position in the market.