Strategy adds $18M in Bitcoin on fifth anniversary of BTC
If you are in the cryptocurrency market, then you are likely aware that there is a company called Strategy that has been investing in Bitcoin for the last few years and has been doing so consistently at various prices. The company is bullish on Bitcoin and trying to accumulate as much as possible, which is reflecting on their share price and because now the prices are going....profits are shared among stakeholders.
The current price of Bitcoin is around 120K US dollars and the company has bought another bunch of Bitcoin, which is worth 18 million US dollars. And this is the 5th anniversary for the company following the Bitcoin strategy, which is great because even after co.... the same passion towards Bitcoin.
Strategy’s new Bitcoin purchases were made at an average price of $116,401 per coin, with BTC starting the week at $114,000 and nearing all-time highs around $122,000 by Sunday, according to CoinGecko.
Strategy started buying Bitcoin from the year 2020, and the first Bitcoin they purchased was on 1st August 2020. This company was called MicroStrategy, and recently they have renamed themselves, and the new name is Strategy.
It is not that the company is buying only when the price increases or decreases happens instead, they have been buying at different prices, so no matter whether the price goes up or down, they always keep on buying. Still, they are profitable because whatever they have purchased has come to them at a very low average price, and today, when the price of Bitcoin is very high then also it is still profitable because the last bunch of Bitcoin they purchased this month was for 116K US dollars.
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