Strategy steps up Bitcoin buys with 8,178 BTC purchase

The institution down the largest Bitcoin treasury announced it had returned to buying ample amounts of the cryptocurrency pursuing a $835 cardinal purchase.

In a Monday filing with the US Securities and Exchange Commission, Michael Saylor’s Strategy reported acquiring 8,178 Bitcoin (BTC) for astir $835 million. The acquisition represented a important summation compared to the company’s BTC investments successful October and earlier successful November, which it reported to beryllium astir 400-500 coins per week.

Source: Strategy

The acquisition came amid important volatility successful the terms of Bitcoin. According to information from Nansen, BTC terms fell by astir 11% successful the erstwhile 7 days, reaching $94,191 astatine clip of publication. 

Strategy remains the institution with the astir extended Bitcoin treasury astatine 649,870 BTC, pursuing its archetypal strategy of consistently buying the cryptocurrency, which began successful August 2020. BitMine Immersion Technologies holds the most Ether (ETH), and Forward Industries has the biggest presumption connected Solana (SOL).

Related: Strategy’s NAV falls nether 1, critics rise alarm aft $5.7B Bitcoin wallet move

Despite the Bitcoin terms flash clang past week, Saylor, Strategy’s enforcement chair, said successful an interview and connected societal media that the institution continued to get the cryptocurrency. The stock terms of the company’s MSTR banal connected Nasdaq has besides declined, falling much than 16% successful the erstwhile 5 days to $197.03 astatine the clip of publication.

Strategy seat to statement golden bug?

Over the weekend, golden capitalist and outspoken Bitcoin professional Peter Schiff challenged Saylor to a debate connected signifier astatine Binance Blockchain Week successful Dubai successful December. Schiff said Strategy’s “entire concern exemplary [was] a fraud.”

At the clip of publication, Saylor did not look to person publically responded to the challenge.

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