In brief: Putting all of your eggs into one basket is a gamble, but apparently nobody told that to Strategy. The American financial company recently purchased an additional 24,869 BTC at an average price of $80,985 each, bringing its total Bitcoin holdings to 843,738.
As of this writing, Bitcoin is trading around $76,574 per, valuing the company's holding at roughly $64.6 billion. Strategy shelled out just over $2 billion during its latest spending spree.
Bitcoin is structured such that only 21 million coins will ever be mined, and more than 20 million are already in circulation. Based on where we sit today, Strategy holds just over four percent of the total Bitcoin population. According to Bitbo, Strategy's overall average purchase price is $66,384.56 per coin, meaning they are ahead on their investment based on current trading value.
Strategy bought its first batch of Bitcoins near the end of 2020, not long after the cryptocurrency's first major peak in late 2017. Even bigger success for the digital currency would come in 2021 but it wasn't until late 2024 that Bitcoin would break the $100,000 barrier. BTC approached its all-time high of nearly $125K last fall but has since cooled a bit.
Bitcoin has made many people a lot of money, especially those that got in early with very little invested or mined their own coins. Nobody ever really expected a random digital token to explode in value the way it has, especially considering the coin was worth pennies on the dollar early on. Now, even a few Bitcoin can substantially change your life.
Earlier this month, for example, an X user was able AI to restore access to a Bitcoin wallet that had been locked for over a decade. The five BTC in the wallet had been purchased back in 2015 when the cost of a single coin was $250. The owner ended up forgetting his password, so the coins sat untouched all this time. At current trade value, the haul is worth close to $400,000.
