Michael Saylor's Strategy Inc. purchased 34,164 bitcoins for approximately $2.54 billion in the week leading up to the Bitcoin halving, further cementing its position as a leading corporate holder of the digital asset.
The acquisitions, occurring between April 13 and April 19, were disclosed in a Form 8-K filing with the U.S. Securities and Exchange Commission on April 20. The filing shows the purchases were made at an average price of approximately $74,395 per bitcoin.
The latest purchase brings Strategy Inc.'s total bitcoin holdings to 815,061 BTC. The company has spent a total of $61.56 billion to acquire its stack, putting its average cost basis at approximately $75,527 per coin. The funds for this recent acquisition were raised through its at-the-market (ATM) equity issuance program.
This significant purchase ahead of a key network event reinforces the firm's bullish outlook and provides a strong signal of institutional demand, potentially setting a price floor for Bitcoin. The move stands in contrast to outflows seen in some spot Bitcoin ETFs, such as Grayscale's GBTC, over the same period and may bolster broader investor confidence.
This article is for informational purposes only and does not constitute investment advice.