Tag: capital raising difficulties

Strategy Acquires 390 Bitcoin, October Buys Net 778 BTC

The post Strategy Acquires 390 Bitcoin, October Buys Net 778 BTC appeared com. Michael Saylor’s strategy, the world’s largest public Bitcoin holder, added to its BTC holdings last week amid rising momentum, but buying activity has slowed considerably since September. Strategy purchased 390 Bitcoin (BTC) for $43. 3 million in its latest BTC acquisition last week, according to a US Securities and Exchange Commission filing on Monday. The purchases were made at an average price of $111,117 per BTC, with Bitcoin briefly rising past $113,000 on Tuesday, according to CoinGecko data. The acquisition brought Strategy’s total Bitcoin holdings to 640, 808 BTC, purchased for about $47. 4 billion at an average price of $74,032 per coin. Strategy posts one of its slowest BTC-buying months With the latest purchase of 390 BTC, Strategy has accumulated 778 Bitcoin in October among the smallest monthly totals in its history. Compared with the 3, 526 BTC acquired in September, Strategy’s October buys are down 78%, underscoring the ongoing slowdown in accumulation. The latest buy is even smaller compared with the massive 31, 466 BTC and 26, 695 BTC acquired in July and May, respectively. An excerpt from Strategy’s Form 8-K. “Strategy is no longer buying big but they’re still buying,” Maartun wrote in an X post on Sunday, adding that long-term conviction remains, “even as funding pressure grows. 53 billion spent on BTC acquisitions so far. The company still has roughly two months to surpass last year’s record of $21. 76 billion spent on BTC, according to Maartun. Related: Strategy can buy $100M of Bitcoin within an hour of raising it: Saylor Strategy’s.