Strategy (MSTR), the world's largest corporate owner of bitcoin (BTC), appeared to miss out on capitalizing on last week's market rout to purchase the dip in prices.
According to Monday's press release, the firm bought 220 BTC at an average price of $123,561. The company used the proceeds of selling its various preferred stocks (STRF, STRK, STRD), raising $27.3 million.
That purchase price was well above the prices the largest crypto changed hands in the second half of the week. Bitcoin nosedived from above $123,000 on Thursday to as low as $103,000 on late Friday during one, if not the worst crypto flash crash on record, liquidating over $19 billion in leveraged positions.
That move occurred as Trump said to impose a 100% increase in tariffs against Chinese goods as a retaliation for tightening rare earth metal exports, reigniting fears of a trade war between the two world powers.
At its lowest point on Friday, BTC traded nearly 16% lower than the average of Strategy's recent purchase price. Even during the swift rebound over the weekend, the firm could have bought tokens between $110,000 and $115,000, at a 7%-10% discount compared to what it paid for.
With the latest purchase, the firm brought its total holdings to 640,250 BTC, at an average acquisition price of $73,000 since starting its bitcoin treasury plan in 2020.
MSTR, the firm's common stock, was up 2.5% on Monday.
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