- Strategy greenlit the purchase of 397 Bitcoin last week for $45.6 million to increase its holdings to 641,205 BTC.
“Orange is the color of November,” Strategy (formerly MicroStrategy) Executive Chairman Michael Saylor said on X last Sunday. With that, the crypto community has already expected that the Bitcoin development company is about to start the month with a bang.
Strategy’s Most Recent Bitcoin Purchases
On Monday, Strategy indeed filed a Form 8K at the US Securities and Exchange Commission (SEC) to disclose its big Bitcoin purchases last week. According to the document, the company secured 397 BTC for $45.6 million between October 27 and November 2 at an average price of $114,771 per BTC.
Strategy funded its latest Bitcoin transactions with some of the proceeds of its perpetual strife (STRF), strike (STRK), stride (STRD), and common stock (MSTR) offerings, amounting to $69.5 million during the same period.
The move increased Strategy’s Bitcoin haul to 641,205 BTC to maintain its lead among other publicly traded companies and digital asset treasuries (DATs) with strategies focused on BTC accumulation. Meanwhile, the development means the business now controls roughly 3.22% of Bitcoin’s 19.94 million circulating supply or 3.05% of its 21 million supply limit. Additionally, it has improved the company’s BTC yield to 26.1% year-to-date (YTD), representing the percentage growth of its BTC holdings relative to its outstanding shares.
The Company’s Total BTC Investment
Strategy has already poured $47.49 billion into its Bitcoin-centric treasury playbook. The numbers come at a dollar cost average (DCA) of $74,057 per BTC, which is only a slight increase from the business’s $74,032 per BTC average during its October 27 report.
Bitcoin’s 24-hour fluctuation between a $107,010.78 low and a $110,764.92 high as of 3:00 PM UTC on Monday brings the value of Strategy’s Bitcoin investment at roughly $68.52 billion to $71.02 billion, translating to unrealized gains of around $21.03 billion to $23.53 billion.
As always, a mix of positive and negative comments swarmed Saylor’s post regarding the purchase. The condescending half mocked Strategy for its more tempered acquisition than when prices were new all-time highs. Some also questioned why the company’s average purchase last week was near BTC’s $116K seven-day peak.
On the other hand, the supportive half praised Strategy for its unwavering commitment in the execution of its treasury roadmap, notwithstanding current market conditions. Others were impressed with the institution’s measured move, allowing it to stack that much BTC at a very low DCA.
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