Saylor’s Strategy Buys Over $2 Billion Worth of BTC Despite Growing Geopolitical Tension
Given the fact that Monday was an official holiday in the US (MLK Day), Strategy’s Michael Saylor had to wait until today to announce his company’s latest BTC purchase.
In it, the world’s largest corporate holder of the digital asset said it accumulated another 22,305 BTC for just over $2.1 billion. The average price of the acquisition was $95,284, and puts the firm’s total holdings at a whopping 709,715 BTC.
This substantial fortune was accumulated over the past half a decade at an average price of almost $76,000 per unit, as Strategy has spent nearly $54 billion to acquire it. Given BTC’s price today of $91,000, the stash is now worth $64.6 billion. Consequently, Strategy sits on a paper gain of over $10 billion as of press time.
The announcement today comes after Saylor hinted at the purchase on Sunday. Its timing is rather intriguing given the developments that have unfolded in the past few days between the country where Strategy is situated, and its claimed biggest ally – the European Union.
The two sides have fought over Greenland, which is legally under Denmark’s control. However, Trump wants to purchase the world’s biggest island for “national security purposes.”
The escalating tension between the two led to Trump imposing new tariffs and resulted in further price declines in the crypto markets. BTC went from over $95,000 to under $91,000 in just a couple of days.
The post Saylor’s Strategy Buys Over $2 Billion Worth of BTC Despite Growing Geopolitical Tension appeared first on CryptoPotato.
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