CRYPTO: Strategy Buys 1,031 BTC for $76.6M as Accumulation Pace Slows Sharply

Strategy (formerly MicroStrategy) disclosed in an SEC Form 8-K that it purchased 1,031 bitcoin between March 16 and 22 at an average price of about $74,326 per BTC, spending $76.6 million. The company said the buys were funded entirely through at-the-market sales of common stock. It did not use preferred-share financing for this tranche. Strategy's total bitcoin holdings now stand at 762,099 BTC, acquired for an aggregate $57.69 billion at an average cost of roughly $75,694 per BTC. With bitcoin trading in the high $60,000s, the position implies around $5 billion in unrealized losses. The latest purchase marks a steep deceleration from recent weeks, when the firm added 22,337 BTC ($1.57 billion) and 17,994 BTC ($1.28 billion). At 1,031 BTC this week, that's about a 95% drop in weekly buying volume. Even with the slowdown, Strategy remains the world's largest corporate holder of bitcoin. For March, the company has added about 41,362 BTC for approximately $2.93 billion.