Michael Saylor’s Strategy Buys $27,200,000 in Bitcoin – Before Friday’s Crypto Meltdown
Michael Saylor’s digital asset treasury company Strategy has purchased another $27.2 million in Bitcoin.
The acquisition added 220 BTC to the company’s BTC stockpile at an average price of $123,561 per coin, bought between October 6th and October 12th.
The purchase price shows the acquisition came just before Friday’s major crypto market crash, when Bitcoin tumbled over 10%, falling below $110,000 amid President Trump’s announcement of 100% tariffs on China.
Strategy now holds 640,250 BTC worth $73.69 billion, acquired for $47.38 billion at an average of $74,000 per coin.
The purchases were funded by proceeds from three of the company’s ATM equity programs – STRF, STRK and STRD.
Friday’s meltdown wiped out around $400 billion from the crypto market in less than 24 hours, triggering massive liquidations. Bitcoin dropped sharply from around $117,000, with altcoins like ETH and SOL falling 15%-30%.
Strategy Inc., listed on Nasdaq under the ticker MSTR, is the world’s largest corporate Bitcoin holder.
The company was the first to use BTC as its sole treasury asset.
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Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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