Michael Saylor's Strategy is making headlines with its latest Bitcoin purchase, acquiring 1,142 BTC for $90 million at an average price of $78,815 per coin, despite Bitcoin's price dipping below that level all week, even touching $60,000.
This move pushes Strategy's total Bitcoin holdings to 714,644 BTC, valued at over $54 billion, with an average cost basis of $76,056 per coin. Interestingly, the purchase didn't lower their average cost basis, fueling speculation that Saylor is avoiding buying "too cheap" to prevent paper losses.
Strategy's stock has been volatile, plunging to $107 before rebounding 26% to around $135 as crypto markets bounced. Analysts are divided on Saylor's strategy, with some seeing it as a bold move, while others joke that he's avoiding cheap buys.
What do you think about Saylor's strategy? Is it a smart move or a risky bet?
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