Strategy, led by Michael Saylor, has further expanded its position as the world’s largest public bitcoin holder with the acquisition of 168 BTC for $18.8 million last week.
The purchase, made at an average price of $112,051 per bitcoin, comes amid continued market volatility following the recent price crash on October 10.
Steady march toward 700,000 BTC
With this latest buy, Strategy now holds a total of 640,418 BTC, acquired at an average cost of $74,010 per coin for a total outlay of roughly $47.4 billion.
The company remains 59,582 BTC away from reaching the significant milestone of 700,000 BTC.
Recent purchases have been smaller compared to earlier in the year, when monthly acquisitions sometimes topped 25,000 BTC.
Based on the average buying pace of 5,620 BTC per month over August and September, Strategy could reach 700,000 BTC within about 11 months if the trend continues.
MSTR stock under pressure
The company’s aggressive buying streak comes as Strategy’s stock (MSTR) has slid 21% since October 5, dipping below $284 last week.
Despite the recent downturn, MSTR remains up 50.4% year-over-year and has soared 1,650% over the past five years.
For investors tracking the company’s performance relative to bitcoin, the MSTR stock vs BTC chart offers further insights.
