Strategy Spent Another $27 Million on Bitcoin Before It Crashed

Strategy, the largest corporate Bitcoin holder, recently invested $27 million in Bitcoin before a significant price drop. The firm purchased 220 Bitcoin at an average price of $123,500, aligning closely with Bitcoin's previous all-time high of around $126,000. This purchase marks Strategy's third smallest acquisition this year, raising the average cost of its Bitcoin holdings above $74,000. Despite fluctuations, the firm's total Bitcoin ownership has reached 640,250, valued at approximately $73 billion. The funds for this investment were sourced from selling preferred shares. Last week, Bitcoin and Ethereum investment products attracted substantial new capital, totaling $3.17 billion, just before the market was affected by geopolitical tensions. Following the drop, Bitcoin's price stabilized around $115,000, indicating a minor recovery. The firm’s stock also fluctuated, with a 15% drop noted over recent trading days, while ongoing concerns about trade tensions have affected market stability.

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