Breaking: Strategy's $40 Billion Bitcoin Bet Just Got Bigger
Emily HarrisBusiness Intelligence Firm Invests Another $427.1 Million in Bitcoin
In a strategic move, business intelligence firm Strategy has purchased an additional $427.1 million worth of Bitcoin. This latest investment expands the company's growing Bitcoin portfolio, which now totals an impressive $40.6 billion.
The average purchase price for this latest Bitcoin acquisition exceeded $106,000 per coin, while Bitcoin currently trades just below $110,000. With this transaction, the company's cumulative average Bitcoin purchase price approaches $70,000 for the first time.
Despite this significant investment, the company's shares dipped 1% in pre-market trading following a steeper 7.5% decline on Friday. These market movements highlight cryptocurrency volatility, though the company maintains its strong commitment to Bitcoin as a long-term investment.
Key Highlights:
- Latest Bitcoin purchase: $427.1 million
- Total Bitcoin investment reaches $40.6 billion
- Recent purchase price averaged above $106,000 per Bitcoin
- Company's cumulative average purchase price nears $70,000
- Shares down 1% in pre-market after Friday's 7.5% drop
