Bitcoin treasury company Strategy has completed a new purchase of 593 BTC, the firm’s 100th overall acquisition since it started accumulating.
Strategy Has Added 592 BTC To Its TreasuryFollowing the 100th buy by Strategy, its total holdings have grown to 717,722 BTC, equivalent to nearly 3.6% of the entire BTC supply in circulation. The company spent a total of $54.56 billion on this stack, but today, it is only worth $46.48 billion, meaning that the firm is in a loss of nearly 15%.
Speaking of loss, Strategy has a reputation of buying at or near local tops in the asset. The same appears to have been the case this time as well, with the cryptocurrency currently down almost 4% from the new purchase’s cost basis of $67,286 per token.
According to the filing with the US Securities and Exchange Commission (SEC), Strategy made the latest acquisition between February 17th and 22nd, and funded it using sales from the firm’s MSTR at-the-market (ATM) stock offering program.
Out of this, the company has locked 3,040,483 ETH into the staking contract. Bitmine chairman Thomas “Tom” Lee said:
In the midst of this ‘mini crypto winter,’ our focus continues to be on methodically executing our treasury strategy and steadily acquiring ETH and in turn, optimizing the yield on our ETH holdings.
BTC PriceAt the time of writing, Bitcoin is floating around $65,100, down more than 4% over the last seven days.
