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Getting Tired Already? Strategy Acquires $60M in BTC

Due to minimal stock sales last week, Strategy spent only $60.2 million on BTC shopping, a significant drop from weeks where it spends billions of dollars on BTC.

Strategy

Strategy, an American business intelligence firm and the world’s largest corporate bitcoin (BTC) holder, has gone bitcoin shopping again this year to continue its spree. Based on a recent release, it purchased an additional 525 BTC within the last business week.

According to data from Strategy’s official purchases page, this marks the company’s 30th and fifth-lowest bitcoin purchase of the year.

Strategy Buys Only $60M BTC

For its latest BTC shopping, Strategy scooped the 525 BTC at an average price of $114,562 per bitcoin. The publicly traded firm now holds 638,985 BTC acquired for $47.23 billion. It has also attained an all-time average purchase price of $73,813 per bitcoin.

According to Strategy’s filing, it did not record very fruitful sales of its stocks in the last business week, resulting in minimal bitcoin purchases. It sold just 302,503 STRF Shares to raise $34 million. It also sold 208,175 units of its STRD Shares and offloaded 181,228 STRK Shares to raise $34.2 million, totaling $68.2 million. It spent almost 90% of the proceeds on BTC shopping.

Sadly, it did not sell any MSTR shares last week. Notably, this pales in comparison to the week before, when sales from its MSTR stock accounted for a greater percentage of the $217 million it spent to acquire 1,955 BTC.

Hyperscale Data to Spend $100M on BTC

While Strategy appears to have slowed its BTC acquisition spree, others are just getting started. In a recent development, Hyperscale Data, a publicly listed provider of advanced data center solutions, has announced plans to join the growing list of institutional bitcoin investors with its $100 million BTC treasury strategy.

To raise funds for its BTC treasury, Hyperscale Data is conducting an at-the-market (ATM) equity program and selling its Montana data center assets, displaying confidence in bitcoin’s long-term potential. Moreover, the firm sees its latest investment move as part of its transformation into becoming a “pure play artificial intelligence (AI) data center and digital asset company.”    

Meanwhile, bitcoin has formed a few bullish candles in recent days, boosting investors’ confidence. Contributing significantly to the uptrend was the massive inflow of over $2.4 billion into U.S.-regulated investment funds tied to the value of bitcoin.

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Samuel Wilfred