Michael Saylor’s company %Strategy (NASDAQ: $MSTR) has been buying the recent dip in %Bitcoin (CRYPTO: $BTC), adding an additional 3,459 of the %Cryptocurrency in the past week.
Strategy, formerly known as MicroStrategy, now owns a total of 531,644 Bitcoin that’s worth $45.19 billion U.S. based on the current price of BTC that’s at $85,000 U.S.
According to a regulatory filing with the U.S. Securities and Exchange Commission (SEC), Strategy purchased the additional Bitcoin over the last week at an average price of $82,618 U.S.
The average cost of Strategy’s Bitcoin holdings is now at $67,556 U.S. The latest acquisition was funded through the sale of the company’s common stock.
A former software company, Strategy rebranded earlier this year to reflect the fact that it is now a serial acquirer of Bitcoin.
The stock of Strategy has risen 125% over the past year to trade at $299.98 U.S. per share.
Bitcoin has fallen from an all-time high of just over $109,000 U.S. per digital token reached in January of this year.
Strategy recently warned that it’s anticipating a loss for this year’s first quarter due to the decline in Bitcoin’s price.
