Strategy Boosts Bitcoin Holdings With Additional 4,980 BTC

Strategy, led by Michael Saylor, has continued its Bitcoin (BTC) acquisition strategy by adding 4,980 BTC to its holdings. According to a post on X , the recent purchase cost approximately $531.9 million, with an average price of $106,801 per Bitcoin. Strategy’s BTC Acquisition is Not Ending Soon Interestingly, Strategy’s recent acquisition has increased its total Bitcoin holdings to 597,325 BTC, valued at around $42.4 billion. The company’s average purchase price for all its Bitcoins now is $70,982 each. With these numbers, Strategy is the largest corporate holder of Bitcoin worldwide. Notably, the business intelligence software firm’s year-to-date Bitcoin gain has increased to 85,871 BTC, which is worth about $9.5 billion. This shows the company’s strong belief in Bitcoin’s long-term value. It is worth noting that the funding for this purchase came from several sources, including the sale of Class A common stock, MSTR, perpetual preferred stock, STRK, and Strife preferred stock. This approach to financing highlights Strategy’s commitment to holding Bitcoin as a key part of its treasury reserve. Michael Saylor also hinted at a new purchase. In a recent update about his company’s Bitcoin investments, he said, “In 21 years, you’ll wish you’d bought more.” He repeated this idea in his recent speech , predicting that Bitcoin could reach a value of $21 million per coin in 21 years. Strategy Accused of Misleading Bitcoin Statements Meanwhile, Strategy has become the subject of discussion among several firms, with a number of them bringing lawsuits against the BTC behemoth. As reported by TheCoinRise, five law firms filed identical class action lawsuits against Strategy . The prosecutors have charged the firm with securities fraud related to the Bitcoin treasury it has built over the past five years. They accused the firm of making misleading investment statements, including some about Bitcoin and Strategy’s business, operations, and prospects. Additionally, a Strategy has been outlined for mitigating the various risks associated with Bitcoin’s volatility. These firms are seeking to recover damages from Strategy. Michael Saylor Hints at More BTC Buys However, Michael Saylor has recently hinted at a potential acquisition of Bitcoin . Saylor posted a chart on X displaying his firm’s historic Bitcoin purchases, accompanied by the cryptic caption: “Nothing Stops This Orange.” The statement echoes similar past posts that preceded major Bitcoin buys. Likewise, the post comes amid legal troubles for Saylor and Strategy’s top leadership. Despite the legal headwinds, Saylor’s continued bullish stance suggests that the company will continue to expand its Bitcoin treasury. Recall that the firm purchased 245 Bitcoins approximately $26 million , at an average price of $105,856 per coin. The post Strategy Boosts Bitcoin Holdings With Additional 4,980 BTC appeared first on TheCoinrise.com .

Source: The Coin Rise