Saylor’s strategy spends more than $200 million to acquire 3,015 BTC: Details

Some of the comments under the company’s post said this purchase shows “conviction, not hesitation.”

After hinting at another purchase on Sunday, Strategy co-founder and former CEO Michael Saylor made it official, stating that his company has spent $204.1 million to acquire an additional 3,015 BTC.

The average cost of the last transaction was $67,700, and the company’s stock has increased to 720,737 BTC. It was purchased at an average price of just under $76,000, meaning the NASDAQ-listed company remains in the red on its bitcoin position.

With the price of the cryptocurrency trading at around $66,000 at press time, Strategy’s fortune is worth around $47.5 billion, representing a net unrealized loss of more than $7 billion.

Most of the comments under Saylor’s posts described their support for the move, with one user calling the purchase of 3,015 BTC during the current macro conditions a show of “conviction” rather than hesitation.

Strategy’s share price has not yet opened for trading following the weekend’s events in the Middle East, but is down 0.5% in pre-market trading. More volatility is expected when Wall Street opens in a few hours.