Strategy Resumes Weekly Bitcoin Purchases, Now Owns 478,740 BTC – Bitcoin News

Strategy, the company formerly known as Microstrategy, has announced a new major Bitcoin acquisition. On Monday, February 10, the company's CEO Michael

Publicly traded firm Strategy (formerly known as MicroStrategy) has disclosed a substantial new Bitcoin (BTC) purchase.

On Monday, February 10, the company's CEO Michael Saylor announced the latest acquisition via Twitter, revealing that the firm had resumed its weekly BTC purchases, further solidifying its position as the world's largest Bitcoin holder among publicly traded companies.

According to the press release, Strategy acquired 7,633 BTC, valued at approximately $742 million. The purchase was made at an asset price of $97,255 per bitcoin.

The company's Bitcoin strategy appears to be yielding positive results. As of February 9, Strategy had achieved a year-to-date Bitcoin yield of 4.1%. With the latest purchase, Strategy now holds 478,740 BTC, at an average Bitcoin cost of approximately $65,033 per Bitcoin.

Bitcoin Holding Steady at $97,000

After retracting from the $100,000 level on February 7, the world's largest cryptocurrency entered a sideways trading pattern, hovering around the $94k-$97k range.

However, the potential economic impact of a trade war between China and the U.S. has triggered a capital flee from the cryptocurrency market, as investors become more risk-averse, fearing the impact on American interest rates.

Trading volume has also seen a significant decrease over the last week, contributing to the stagnation in the currency's value. Currently, the asset is trading at $97,350, up around 1.2% over the last 24 hours.

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