Strategy Inc., the software company formerly known as MicroStrategy, disclosed that it bought 430 Bitcoin between 11–17 August at an average price of $119,666, spending roughly $51.4 million. The purchase follows the company’s acquisition of 155 Bitcoin for $18 million earlier in the week. The latest transaction lifts Strategy Inc.’s stash to about 629,376 Bitcoin, worth around $74 billion at today’s market price of about $117,700 and leaving the firm by far the largest corporate holder of the cryptocurrency. Separately, the company has scrapped a self-imposed restriction that limited at-the-market share sales to periods when its stock traded at a premium to its Bitcoin holdings. The revised policy will allow Strategy Inc. to issue shares even when the premium has narrowed, providing greater flexibility to fund additional Bitcoin purchases and cover operating costs, according to Bloomberg. The moves come as Bitcoin trades just below last week’s record high of $124,000, underscoring Chief Executive Officer Michael Saylor’s continued conviction that holding and accumulating the token is the company’s primary treasury strategy.
Machi Big Brother opens a fresh 3x leveraged long on $YZY — roughly 570,000 tokens (~$613.8K) deployed. Watch for volatility as this size could move the tape. https://t.co/f39NqYLMcR https://t.co/C0IoxU908I
Trader AwY1VT bought $249K worth of $YZY at launch. He sold around 1/6 of his holdings for $325K, 1/6 for $257K, and another round of selling for $204K about 10 minutes later. Currently he has half of his initial buy, profiting close to $554K 👀 Insider info or just lucky? https://t.co/tovlHIqPyC
Machi Big Brother(@machibigbrother) just opened a 3x leveraged long on $YZY, with a position of 570,000 $YZY($613.8K). https://t.co/T0DJNDGd53 https://t.co/60tXRi3ZgN