Strategy adds $1B in Bitcoin as Israel-Iran conflict pressures markets
Strategy’s latest Bitcoin purchases were made following Strategy’s STRD, its third Bitcoin-backed preferred stock, launching on the Nasdaq on Wednesday.
Michael Saylor’s Strategy, the world’s largest corporate holder of Bitcoin, disclosed its latest BTC purchases made last week amid escalating geopolitical tensions in the Middle East.
Strategy acquired 10,100 Bitcoin (BTC) for $1 billion during the week ending Sunday, the company officially announced on Monday.
The purchases were made at an average price of $104,080 per coin, with Bitcoin dropping from $110,000 on June 9 to an intraweek low of $103,639 on Thursday, following the news that Israel had struck Iranian nuclear facilities.