From Yahoo Finance · · 1m 10s
Strategy Buys Bitcoin Again
Strategy adds 4,603 Bitcoin for $370 million, but market barely reacts.
In brief
Strategy adds 4,603 Bitcoin for $370 million, but market barely reacts. Strategy's recent Bitcoin purchases are small relative to market volume and don't move prices. Originally reported by Yahoo Finance.
Strategy owns 4% of all Bitcoin
Strategy (NASDAQ: MSTR) owns 4% of all the Bitcoin (CRYPTO: BTC) in existence.
Strategy buys 4,603 coins for $370 million
In three weeks, Strategy added 4,603 coins for a total price of $370 million.
Average price per coin is $80,318
The average price was $80,318 per coin.
Strategy's purchases are small relative to market
Strategy's latest buy represented 0.02% of Bitcoin's market cap and 0.28% of supply available at Thanksgiving 2024.
Bitcoin trading volume is $30 billion daily
According to CoinMarketCap, Bitcoin's daily trading volume hovered around $30 billion in the last month.
Strategy's purchases don't move prices
Strategy's recent buys are rounding errors, not game-changing market movers.
Strategy's past buys caused Bitcoin to fall
In January, Strategy dropped $3.4 billion on 35,932 coins, but Bitcoin fell off a cliff.
Strategy is a price taker, not price setter
Strategy's purchases tend to fall near local highs, and its sales cluster near annual lows.
The short version
Strategy's recent Bitcoin purchases are small relative to market volume and don't move prices.
