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Steven Walgenbach

Strategy Acquires 487 BTC for $49.9 Million as Chanos Closes Short Position

Strategy purchased 487 Bitcoin for approximately $49.9 million between November 3 and November 9, at an average price of $102,557 per coin, according to an SEC filing. The acquisition brings the company's total holdings to 641,692 BTC, valued at over $65 billion at current prices. Veteran short seller Jim Chanos closed his 11-month short position on Strategy after the stock's multiple to net asset value compressed from 2.5 to 1.23.