Michael Saylor’s Strategy, the world’s largest corporate holder of Bitcoin, has announced its latest BTC purchases after the price briefly dropped to $103,000 last week.
Strategy acquired 705 Bitcoin for $75.1 million between May 26 and 30, the company announced on June 2.
The latest purchases were made at an average price of $106,495 per coin, with Bitcoin dropping from $110,000 last Monday to an intraweek low of $103,400 by the weekend.
The purchase marked the last Strategy’s Bitcoin buy in May, bringing Strategy’s total BTC holdings to 580,955 BTC, acquired for approximately $40.68 billion at an average price of $70,023 per coin.
Strategy director sells MSTR shares
Strategy’s new Bitcoin acquisition followed another series of Class A sales by Strategy director Jarrod Patten.
According to a Strategy report of the proposed sale of securities filed on May 30, Patten sold 3,750 shares in the period between May 22 and 29, worth nearly $1.4 million.
Strategy’s stock, trading under the ticker MSTR, saw downward pressure following the sales, briefly falling below $360 on both May 28 and May 30.
According to TradingView, the Strategy stock recovered to close last week at $369, but was trading at 1.6% down in pre-market.
Despite recent drops, Strategy stock is still up roughly 23% year-to-date, with annual gains of 123%.
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