Strategy buys 810 bitcoin for $63 million
Michael Saylor's company acquired the tokens as bitcoin traded near $77,784, extending its corporate treasury allocation.
Key takeaways
- 1Strategy acquired 810 bitcoin worth $63 million on 2 November, Watcher Guru reported.
- 2Bitcoin traded at $77,784 with a market value of $1.56 trillion at the time of the announcement.
- 3The purchase adds to Michael Saylor's ongoing corporate treasury reserve strategy.
Michael Saylor's Strategy purchased 810 bitcoin for a total value of $63 million on 2 November, according to a report by Watcher Guru. The acquisition marks the latest addition to the corporate software company's cryptocurrency treasury, extending its ongoing strategy of buying and holding the digital asset on its balance sheet.
Watcher Guru reported the 810 bitcoin allocation on 2 November, though specific execution prices for individual batches were not detailed. At the time of the purchase report, bitcoin traded at $77,784, holding flat over the prior 24-hour period, with a total market value of $1.56 trillion, according to YourKhabri data.
Strategy, led by chairman Michael Saylor, was the first major enterprise software firm to adopt bitcoin as its primary reserve asset. The company routinely uses proceeds from equity financing and convertible debt offerings to acquire tokens, positioning its shares as a primary venue for equity investors seeking indirect exposure to bitcoin.
The latest acquisition suggests that institutional appetite for balance-sheet bitcoin allocation remains steady despite quiet price movements across broader markets. Investors will watch for subsequent financial reports and quarterly regulatory filings to confirm the company's overall treasury count, total capital expended, and updated average cost basis.
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