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Half a Million BTC and Counting: Strategy Adds Nearly $600M More to Its Bitcoin Stack

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After the modest BTC purchase announced last week, the Michael Saylor-founded Nasdaq giant is back in its groove as it has allocated nearly $600 million for its latest bitcoin acquisition.

Thus, the company is now halfway through the one million bitcoin milestone.

The company, which recently rebranded from MicroStrategy to just Strategy and now includes BTC’s logo, has been on a massive accumulation spree ever since the US elections in November last year.

Although it seemed to have slowed down recently, which was evident by last week’s rather modest purchase of 130 BTC (bought for $10.7 million at then-prices), it’s back on the gas pedal now.

Saylor, who stepped down as CEO last year but continues to lead all bitcoin-related initiatives, announced on X that the firm had spent $584.1 million to accumulate 6,911 BTC at an average price of $84,529.

This puts the company’s total stash above the coveted half-a-million mark at 506,137 BTC, purchased for $33.7 billion (or an average price of $66,608).

Given BTC’s price surge in the past several years, Strategy’s holdings are now valued at $44.3 billion, which means that its unrealized profit sits at roughly $10 billion.

Pranešimas Half a Million BTC and Counting: Strategy Adds Nearly $600M More to Its Bitcoin Stack appeared first on CryptoPotato.

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