Michael Saylor’s strategy increased the strategy of buying cryptocurrency by acquiring 487 Bitcoins worth almost $ 50 million, marking an increase over last week’s report.
In a Monday filing with the US Securities and Exchange Commission, strategy said It got 487 Bitcoin (BTC) at an average price of $ 102,557 per coin – about $ 50 million.
The BTC addition brought the company’s total holdings to 641,692 BTC, or more than $67 billion at the time of publication.
Last week, strategy reported purchase of 397 BTCa modest 1.8% increase on its purchases in the last week of October, when it bought 390 BTC for nearly $43 million. Reports have suggested that some institutional players are looking for strategy investments as a bellwether to gain company shares and exposure through exchange-traded funds.
Like Monday, according to Data From Nansen, the price of Bitcoin is $105,321, which has climbed almost 1.5% in the past 24 hours.
Related: The strategy will not deal with bitcoin’s liquidation in the next bear market: Willy woo
The main investor closed a short position against the strategy
The bitcoin purchase comes amid Kynikos Associates’ announcement that it has Its short position was closed Against the MST’s sharing of the Strategy on Friday. The move suggested that at least some investors were more bullish on BTC’s Treasury strategies.
Magazine: Bitcoin’s ‘Speed Bump’ to $56k? Ripple rejects IPO plans: Hodler’s Digest, Nov. 2 – 8
