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Strategy (MSTR) Scoops More Bitcoin Even as Stock Struggles

Strategy, previously Strategy, has announced its fourth consecutive weekly purchase, as it continues to widen the gap between it and other Bitcoin treasury companies. This comes at a time when the MSTR stock continues to reach new lows, alongside the Bitcoin price, which is on a decline.

Strategy Adds More BTC To Bitcoin Treasury

In a press release, the company announced that it had acquired 3,081 BTC for $356.9 million at an average price of $115,829 per Bitcoin, achieving a BTC yield of 25.4% year-to-date (YTD). It now holds 632,457 BTC, which it acquired for $46.50 billion at an average price of $73,527 per bitcoin.

With this latest purchase, Strategy now holds just over 3% of Bitcoin’s total supply of 21 million. Notably, the company funded the purchase with mainly MSTR stock sales just one week after it said that it wouldn’t sell the common stock to buy BTC when the mNAV is below 2.5x.

Strategy's SEC filingSource: Strategy’s SEC filing

Meanwhile, this follows Michael Saylor’s hint yesterday about another Bitcoin purchase. The Strategy co-founder posted the company’s BTC portfolio tracker and declared that “Bitcoin is on sale.”

This marks the company’s fourth consecutive weekly Bitcoin purchase. Last week, the company announced a 430 BTC purchase for $51.4 million. This was also when Strategy issued a new guidance on how they intend to raise capital using the MSTR stock. The company revealed it will only actively sell its common stock to buy BTC when the mNAV is above 4.0x.

MSTR Stock Sinks Over 4%

The MSTR stock continues to struggle amid this latest purchase. TradingView data shows that the stock is down over 4% in today’s trading session, trading at around $343 from last week’s close of $358.

As a result, the Strategy stock has pared its year-to-date gains and is now just up around 19% since the start of the year. Meanwhile, the stock is down over 15% in the last month.

Despite this setback for the MSTR stock, individuals like pro-crypto lawyer John Deaton are still bullish on Saylor’s company and the stock’s trajectory. He predicted that the stock could reach $500 as the Bitcoin price rallies to as high as $250,000 within the next year.

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Boluwatife Adeyemi

Boluwatife Adeyemi is a well-experienced crypto news writer and editor who has covered topics that cut across several niches. His speed and alacrity in covering breaking updates are second to none. He has a knack for simplifying the most technical concepts and making them easy for crypto newbies to understand.

Boluwatife is also a lawyer, who holds a law degree from the University of Ibadan. He also holds a certification in Digital Marketing.

Away from writing, he is an avid basketball lover, a traveler, and a part-time degen.

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