Strategy Didn't Touch Bitcoin Last Week After Making First Purchase Since June — Barrons.com
By Kit NortonStrategy Inc., the largest corporate holder of Bitcoin, announced Tuesday it didn't purchase or sell any cryptocurrency last week. The decision came after the company made its first Bitcoin purchase since late June at the end of August.Strategy stock declined 4.1% to $136.90 on Tuesday. Shares as of Friday had gained 73% since closing at a recent low of $82.31 on June 26. The stock, however, remained down 6% on the year as of the closing price of $142.80 on Friday.Bitcoin prices have dropped more than 2% over the past 24 hours to $77,700, according to CoinDesk. Coinbase Global was down 2.9% while Robinhood Markets advanced 0.7%.Strategy said in a regulatory filing Tuesday it didn't acquire or sell any Bitcoin and that it currently holds. The company, formerly known as MicroStrategy, announced its first Bitcoin purchase since June on Aug. 31, buying 4,603 Bitcoin between Aug. 24 and Aug. 30, for $369.7 million. The average purchase price was $80,318 each.Strategy currently holds approximately 845,050 Bitcoin that were acquired at an average purchase price of about $75,412 a piece.Write to Kit Norton at [email protected] content was created by Barron's, which is operated by Dow Jones & Co. Barron's is published independently from Dow Jones Newswires and The Wall Street Journal.