Daily Market Updates: Strategy adds 250 BTC for about $21.5 million, holdings hit 848,250

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Strategy adds 250 BTC for about $21.5 million, holdings hit 848,250

The Block reports the purchases, made at an average of $86,194 per bitcoin, were funded via Class A stock sales and the company’s USD cash reserve.

Reported · Written up by our desk · Market Structure

Strategy, the bitcoin treasury company, bought an additional 250 bitcoin for approximately $21.5 million at an average price of $86,194 per bitcoin between Oct. 5 and Oct. 11, according to a Monday press release covered by The Block.

The latest acquisition brings Strategy’s total bitcoin holdings to 848,250 BTC, valued by the outlet at about $70.6 billion.

The Block said Strategy funded the purchase using proceeds from the issuance and sale of its Class A common stock, MSTR, and draws from its USD cash reserve.

The outlet also noted that Strategy’s holdings are equivalent to more than 4% of bitcoin’s 21 million supply cap.

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Sources

The Block‘There’s always room for more orange’: Michael Saylor’s Strategy scoops up another 250 bitcoin for $21.5 million as holdings reach 848,250 BTC

Crypto

Strategy adds 250 BTC for about $21.5 million, holdings hit 848,250

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Sources

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