Hassan Maishera
TL;DR
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Bitcoin is up by 1% in the last 24 hours and now trades above $85,500.
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Michael Saylor’s Strategy has purchased 3,459 bitcoins for $286 million, bringing total holdings to 531,644 BTC.
Strategy Purchases 3,459 Bitcoins
The cryptocurrency market was bullish at the start of the week, with Bitcoin and other major coins and tokens in the green. Bitcoin, the leading cryptocurrency by market cap, is up 1% in the last 24 hours and now trades at $85,502 per coin.
The rally comes after an excellent performance over the weekend, bringing its total rally to 8% over the last seven days. The positive performance also aligns with Strategy purchasing additional bitcoins.
The Michael Saylor-led company acquired an additional 3,459 bitcoins for approximately $285.8 million at an average price of $82,618 per bitcoin between April 7 and April 13, according to an 8-K filing with the Securities and Exchange Commission on Monday.
Thanks to this latest acquisition, Strategy now holds 531,644 BTC — worth over $45 billion — bought at an average price of $67,556 per bitcoin for around $35.9 billion, including fees and expenses. Strategy now holds approximately 2.5% of Bitcoin's total 21 million supply.
The company revealed that the latest acquisitions were funded from the sale of its class A common stock, MSTR. Last week, the company sold 959,712 MSTR shares for approximately $285.7 million. As of April 13, $2.08 billion worth of MSTR shares remain available for issuance and sale under that program, Strategy added.
