- Strategy resumes weekly BTC purchases, acquiring 7,633 BTC for $742 million
- Strategy now owns 478,740 BTC, cementing its place as the world’s largest public Bitcoin holder
- Strategy’s Bitcoin strategy yields 4.1% year-to-date, with an average cost of $65,033 per BTC
Strategy, the company formerly known as Microstrategy, has announced a new major Bitcoin acquisition. On Monday, February 10, the company’s CEO Michael Saylor announced on Twitter that the firm had resumed its weekly BTC purchases, cementing even further its place as the world’s largest Bitcoin holder among public-traded companies.
As per the press release, Strategy acquired 7,633 BTC, costing around $742 million. The purchase was made when the asset was valued at $97,255 per bitcoin.
The Bitcoin strategy by the firm is already paying off. As of February 9, Strategy achieved a year-to-date Bitcoin yield of 4.1%. Adding the most recent purchase, Strategy now owns 478,740 BTC, with an average Bitcoin cost of ~$65,033 per Bitcoin.
Bitcoin Holds Own to $97,000
Ever since retracting from the $100,000 level on February 7, the world’s largest currency entered a sideways trading pattern, trading around the $94k-$97k range.
The potential economic impact of a trade war between China and the U.S. has caused a flee of capital from the cryptocurrency market, as investors become more risk-averse in fear of a potential impact on American interest rates.
Trading volume saw a significant decrease over the last week, which helped stagnate the value of the currency. Currently, the asset trades at $97,350, up around 1.2% over the last 24 hours.
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