Strategy may be gearing up for its 101st Bitcoin purchase, according to a cryptic post shared by co-founder Michael Saylor.
Summary
- Michael Saylor has hinted at Strategy’s 101st Bitcoin purchase.
- The company currently holds 720,737 BTC worth over $48.7 billion.
- Bitcoin was trading near $67,500, below Strategy’s average purchase cost.
As is often the case with Saylor’s posts, he shared Strategy’s Bitcoin accumulation chart, which tracks the company’s purchases since it first began buying the asset in August 2020.
“The Second Century Begins,” he wrote on X.
Strategy currently holds 720,737 Bitcoin, valued at over $48.7 billion. The company’s last purchase was executed between Feb. 23 and March 1, during which it acquired 3,015 BTC at an average price of $67,700 per coin. This batch also marked the company’s 100th Bitcoin purchase.
In the meantime, Bitcoin price has struggled to remain steady above the $70,000 mark and has repeatedly lost this key psychological support area, which has now turned into a resistance level.
Tensions between the United States and Iran have become the latest trigger that has weighed on risk sentiment across crypto markets.
As of last check, Bitcoin price was hovering around $67,500, which places it below Strategy’s average purchase cost of approximately $75,992, according to data from Bitcoin Treasuries.
Strategy’s basic NAV, which measures the value of its Bitcoin holdings relative to its market capitalization, was just below 1, which means the stock is currently trading at a discount to the value of its underlying BTC treasury.
Strategy shares closed on March 6 down roughly 4.5%, reflecting the caution among some investors as the company has continued funding its Bitcoin accumulation strategy through debt and equity financing.
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