2,486 BTC: Strategy doubles as portfolio suffers unrealized losses

2,486 BTC: Strategy doubles as portfolio suffers unrealized losses

Nevertheless, the company remains in the red on its BTC position.

The world’s largest corporate holder of bitcoin has used the current market downturn as an opportunity to expand its BTC portfolio at prices below $70,000.

In its latest purchase, announced a few minutes ago, Strategy co-founder Michael Saylor said the company had collected 2,486 BTC for nearly $170 million at an average price of $67,710 per unit. This brings the NASDAQ-listed company’s total bitcoin fortune to 717,131 BTC, purchased at an average price of $76,027.

The cryptocurrency market’s decline in recent weeks has left Strategy’s holdings in a losing position, even as the company has repeatedly reassured that it has no plans to sell its BTC.

At a bitcoin price of $68,000 at the time of writing, Strategy’s shares are now worth less than $49 billion. In other words, the company is suffering an unrealized loss of more than $5 billion for the first time since the bear market closed in 2023.

The company’s share price has seen increased broader market volatility in recent weeks, falling from $140 to $120 last week before stabilizing around $134.

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