Strategy on Track to Reach 750K BTC as Saylor Teases Another Purchase
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Former Strategy CEO Michael Saylor has teased yet another Bitcoin purchase on his social media profile. The influential executive has announced an "orange century," seemingly expecting complete hyperbitconization to occur within the next several decades. In the meantime, Strategy's total Bitcoin holdings are steadily approaching the 750,000 BTC mark, according to the most recent data. Strategy's total Bitcoin holdings currently stand at 717,131, according to the most recent data. On Feb. 17, the company announced an additional Bitcoin purchase of roughly $168 million. The company's average purchase price currently stands at $76,000, which is way above the current market price. According to CoinGecko data, BTC is currently changing hands at $67,359, which is way above the current market price. Undeterred by crypto winter Despite being underwater with steep unrealized losses, Strategy appears to be unfazed, and Saylor is willing to expand the company's Bitcoin coffers. As reported by U.Today, the Strategy boss recently stated that Bitcoin is ultimately going to $1 million if it does not go to zero. At the same time, Saylor recently admitted that the industry was in the middle of a full-blown crypto winter, with Bitcoin losing nearly half of its price after reaching its record peak of $126,080 in October. That said, Saylor expects this crypto winter to be relatively mild and short compared to the previous drawdowns. This bearish cycle is different due to political support as well as the institutional money that is entering crypto. source: https://www.tradingview.com/news/u_today:9c7bb2b32094b:0-strategy-on-track-to-reach-750k-btc-as-saylor-teases-another-purchase/