Tuesday, 02 January 2024 12:17 GMT

Strategy Appears To Have Paused Its Bitcoin Purchases


(MENAFN- Yolo Wire) Serial Bitcoin (CRYPTO: $BTC) acquirer Strategy (NASDAQ: $MSTR) appears to have paused its purchases of the largest cryptocurrency over the past week.

The largest corporate owner of Bitcoin does not seem to have increased its Bitcoin position in the past seven days.

Strategy Executive Chairman Michael Saylor typically posts on social media about upcoming BTC purchases every Sunday, followed by a detailed update early on Monday morning.

No such posts occurred in recent days. Instead, Saylor posted on social media about Strategy’s perpetual preferred stock offering called Stretch (NASDAQ: $STRC).

Strategy not purchasing any Bitcoin is notable as it ends a streak of 13 consecutive weekly purchases that began in late December of last year.

Over that period, Strategy acquired a total of 90,831 Bitcoin as the price faltered.

The company currently owns 762,099 Bitcoin that has been purchased at an average price of $75,694 U.S. per token, making it worth $57.69 billion U.S. on paper.

The pause in BTC purchases comes with MSTR stock down 56% over the past 12 months and trading at $126.03 U.S. per share.

Bitcoin is trading at $67,800 U.S. currently.

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Yolo Wire

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