Modest Bitcoin Buying Out Strategy as Unrealized Losses of Nearly  Billion: Details

Modest Bitcoin Buying Out Strategy as Unrealized Losses of Nearly $7 Billion: Details

The company’s total shares were purchased for over $54.5 billion – the current valuation is much lower.

The ongoing cryptocurrency market correction, which many analysts are firmly calling a full-blown bear market, has not deterred the world’s largest corporate holder of bitcoin.

Michael Saylor’s BTC-focused brainchild just announced its latest acquisition, which was relatively modest considering the company’s history of billion-dollar purchases in the past.

Strategy spent just under $40 million to acquire 592 BTC at an average price of $67,286 per unit. This brings his entire cryptocurrency portfolio to a whopping 717,722 BTC, purchased for approximately $54.56 billion at an average price of $76,020.

An update shared by Walter Bloomberg informed Die Strategist sold 297,940 Class A shares through its at-the-market program last week to raise money to purchase BTC. As of yesterday, the company had $37.4 billion of securities available for future ATM sales, including $7.8 billion of MSTR stock and $20.3 billion of STRK stock.

Given the asset’s most recent crash to $66,200 at the time of writing, this means the Wall Street-listed company now has a growing unrealized loss of around $7 billion.

Remember, Strategy’s behavior was very different just over a month ago, when it was pouring over a billion dollars to accumulate 13,627 BTC. At the time, the portfolio was in the green, with an unrealized gain of more than $10 billion.

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The landscape has changed significantly since then, with BTC currently trading around 50% of its all-time high, leading to speculation that the bear market continues.

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