Michael Saylor’s Strategy Buys $27,200,000 in Bitcoin – Before Friday’s Crypto Meltdown
Michael Saylor’s digital asset treasury company Strategy has purchased another $27.2 million in Bitcoin.
The acquisition added 220 BTC to the company’s BTC stockpile at an average price of $123,561 per coin, bought between October 6th and October 12th.
The purchase price shows the acquisition came just before Friday’s major crypto market crash, when Bitcoin tumbled over 10%, falling below $110,000 amid President Trump’s announcement of 100% tariffs on China.
Strategy now holds 640,250 BTC worth $73.69 billion, acquired for $47.38 billion at an average of $74,000 per coin.
The purchases were funded by proceeds from three of the company’s ATM equity programs – STRF, STRK and STRD.
Friday’s meltdown wiped out around $400 billion from the crypto market in less than 24 hours, triggering massive liquidations. Bitcoin dropped sharply from around $117,000, with altcoins like ETH and SOL falling 15%-30%.
Strategy Inc., listed on Nasdaq under the ticker MSTR, is the world’s largest corporate Bitcoin holder.
The company was the first to use BTC as its sole treasury asset.
Generated Image: DALLE3
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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