Strategy Boosts Bitcoin Holdings to $42.2 Billion With Largest 130 BTC Acquisition – CryptoMode
Strategy, the enterprise software company turned Bitcoin proxy, has purchased $10.7 million of the cryptocurrency, according to a filing with the US Securities and Exchange Commission.
Between March 10 and 16, the buy added to the company’s holdings, now valued at around $42.2 billion. The investment comes just a week after the firm announced plans to issue up to $21 billion of preferred stock to fund further BTC purchases.
The company, led by co-founder and Chairman Michael Saylor, has been aggressively buying Bitcoin since late October, using a combination of equity and debt sales to finance its acquisitions. It now holds 499,096 BTC, equivalent to around 2.37% of the cryptocurrency’s cryptocurrency, which is recorded in Bitcointreasuries data.
Saylor, a vocal Bitcoin bull, sees the current market as a buying opportunity. “This is kind of a” historic entry point because all of the risks have been stripped off the asset,” he said at a co”conference in Miami Beach.
Now Wall Street’s going to Street’s it, the US government is going to embrace it, and banks in the US are going to embrace it, which means that all the other banks will embrace it.
Strategy’s Bitc”iStrategy’stion Has Been Paying Off
Strategy’s sharesStrategy has been more than 2,300% since Saylor began investing in Bitcoin in 2020, outpacing the cryptocurrency’s cryptocurrency share in the same period. However, the stock fell 23% over the past three months, while BTC lost around 30% of its value over the same period.
Saylor remains upbeat on Bitcoin’s prospecBitcoin’ste the current market volatility. “We’re in this ma”We’resk-off zone,” he said. “When “hat flips, “I think Bitcoin will rip forward with a vengeance.”
The company’s preferred stock and continued buying of Bitcoin have attracted the attention of hedge fund funds seeking profit from the volatility of MicroStrategy.
