Ah, the tempestuous seas of Bitcoin! Strategy’s holdings are teetering on the brink of disaster with the latest price plunge, yet, like a gambler at the roulette table, they’ve unveiled a new buy. What splendid irony!
Strategy Dives Deep with Another $75.3 Million Worth Of Bitcoin
In a thrilling afternoon spectacle on X, co-founder and chairman Michael Saylor shared news of the company’s latest escapade into the crypto abyss. Hold your breath: they’ve added 855 BTC to their treasure trove for a staggering sum of $75.3 million. A splendid investment, indeed!
Now, here’s the kicker: the average cost of these shiny tokens is a jaw-dropping $87,974! Just as we thought things couldn’t get better, Bitcoin did what it does best-plummeted below that very level, leaving Strategy’s newfound coins swimming in a sea of red ink. But who needs profit when you have drama?
Oh, the tragedy does not end there. Saylor revealed that the entire stack, now swelling to an impressive 713,502 BTC, boasts an average cost basis of $76,052. And just when you thought fortune favored the bold, BTC dipped below $75,000 last Sunday. Our dear treasury firm found itself in quite the pickle!
But fear not! The asset has shown a glimmer of hope, bouncing back slightly, thus nudging the company back toward the green pastures of profitability. With a value now flirting with $56.28 billion, Strategy’s Bitcoin is still precariously close to its acquisition cost of $54.26 billion. A delightful game of chicken, wouldn’t you agree?
This new announcement comes after the market crash, but one might ponder if it truly reveals the firm’s strategy in light of their threatened cost basis. The higher buying price suggests this buy was orchestrated last week. Will they continue their Bitcoin shopping spree, or will caution reign supreme in the coming days? Only time will tell!
In a fit of financial theater, Saylor’s company funded this audacious acquisition using the proceeds from their MSTR at-the-market (ATM) stock offering. However, only a portion of the $106.1 million haul has been funneled into Bitcoin. Perhaps they’re saving some for a rainy day-or another dive into the crypto abyss!
And lo, Strategy isn’t alone in this dance of folly. Bitmine, the grand corporate holder of Ethereum, also declared with bravado that it too had joined the buying frenzy during this market downturn. “We view this pullback as attractive,” declared Tom Lee, Bitmine’s chairman, with the confidence of a lion in a den of sheep.
According to their press release, Bitmine feasted on 41,788 ETH, swelling its total reserves to a staggering 4,285,125 ETH. They now hold a remarkable 3.55% of the Ethereum circulating supply, inching ever closer to their target of 5%. What a delightful race!
BTC Price
As we stand on this precipice of financial chaos, Bitcoin is wobbling around $78,900, down a dramatic 9.5% over the past week. A thrilling ride, indeed!
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2026-02-03 13:26