Strategy makes another Bitcoin purchase as unrealized losses increase

Strategy makes another Bitcoin purchase as unrealized losses increase

The company’s latest purchase raised some eyebrows due to its poor timing.

Michael Saylor, the Bitcoin champion behind Strategy’s BTC accumulation strategy, announced the company’s latest acquisition just minutes ago, spending $90 million to accumulate 1,142 units.

Consequently, the company’s total inventory has grown to 714,644 BTC, acquired at an average price of $76,056 for a total of $54.35 billion. So Strategy’s bitcoin positions remain in the red as the asset trades below $70,000 at the time of writing.

Given the cryptocurrency’s adverse movements over the past week, the average price of $78,815 per BTC means that Strategy completed the acquisition on Monday or Tuesday. After all, the asset fell sharply in the following days and has not been traded at such high prices for a week now.

This raised some questions within the cryptocurrency community, including Satoshi Flipper, who stated that buying BTC at these levels, even with DCA, makes these purchases “extremely stupid.”

Interestingly, Strategy stock prices ended on a high the week before, skyrocketing more than 26% to $135. However, the MSTR is down almost 4% in pre-market trading today. On a monthly basis, MSTR’s price is down 14% despite Friday’s rebound.

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