news 
Strategy Stacks Another 155 BTC For $18 Million On Fifth Anniversary Of Its Groundbreaking Bitcoin Gamble
As Strategy celebrates the fifth anniversary of adopting Bitcoin as its primary reserve asset, it has made another significant move in the cryptocurrency market. In a recent filing with the U.S. Securities and Exchange Commission (SEC), the company announced that it has acquired an additional 155 Bitcoins for approximately $18 million at an average price of $116,401 per coin.
This latest purchase brings Strategy’s total Bitcoin holdings to 628,946 BTC, worth over $75 billion based on current prices. This move is notable as it marks one of the smallest purchases on record by the company, which has been aggressively accumulating the top cryptocurrency.
Strategy’s journey with Bitcoin began five years ago when it first started buying the asset in August 2020. At that time, Strategy acquired 21,454 BTC worth $250 million. Fast forward to today, and the company’s investment has seen an astonishing 950% return, as the price of Bitcoin has skyrocketed from roughly $11,400 to over $119,483 at press time.
Despite the significant returns, Strategy has continued to purchase more Bitcoins, inspiring other publicly traded companies like Metaplanet, Semler Scientific, GameStop, and Trump Media to follow suit. In fact, Strategy co-founder and Executive Chairman Saylor emphasized the importance of continuous buying in a recent statement, saying “If you don’t stop buying Bitcoin, you won’t stop making money.”
To fund its purchases, Strategy has been issuing leveraged debt. The company is also planning to raise an additional $4.2 billion worth of shares through one of its preferred stock offerings, as part of its long-term goal to acquire a massive $84 billion worth of Bitcoin under its scaled-up “42/42” plan.
The strategy’s stance on Bitcoin remains unwavering, with Saylor remaining confident in the cryptocurrency’s future price trajectory. Just last June, he doubled down on his previous forecast, predicting that BTC is headed for $21 million in the next 21 years.
Strategy’s relentless pursuit of accumulating Bitcoins has led to it becoming one of the largest holders of the cryptocurrency in the world.
Source: zycrypto.com
