Bitcoin Price Nears $112K — Strategy Still Accumulating Despite S&P 500 Snub
Bitcoin MagazineBitcoin Price Nears $112K — Strategy Still Accumulating Despite S&P 500 Snub With Bitcoin price hovering around $111,800, Strategy has acquired an additional 1,955 BTC for $217.4 million, bringing its total holdings to 638,460 BTC at an average purchase price of $73,880. The purchase, made despite recent S&P 500 exclusion, demonstrates the company's unwavering commitment to Bitcoin accumulation as corporate treasury holdings collectively surpass 1 million BTC. This post Bitcoin Price Nears $112K — Strategy Still Accumulating Despite S&P 500 Snub first appeared on Bitcoin Magazine and is written by Vivek Sen.
Bitcoin Magazine
Bitcoin Price Nears $112K — Strategy Still Accumulating Despite S&P 500 Snub
Michael Saylor’s Strategy continues its aggressive Bitcoin accumulation strategy, announcing the purchase of 1,955 BTC for $217.4 million at an average Bitcoin price of $111,196 per coin. The latest acquisition brings the company’s total Bitcoin holdings to 638,460 BTC, maintaining its position as the largest corporate holder of Bitcoin globally.
The move comes as Bitcoin Price holds steady between $110,500 and $112,200 and follows Strategy’s exclusion from the S&P 500 in favour of Robinhood (HOOD). Despite that and shareholder criticism, Executive Chairman Michael Saylor is pressing ahead with the firm’s Bitcoin-only treasury strategy.
The firm’s average purchase price now stands at $73,880 per Bitcoin, representing a significant paper profit on its holdings given current market prices.
The company’s aggressive accumulation comes amid a broader trend of corporate Bitcoin adoption, with over 200 public companies now holding Bitcoin in their treasuries. Recent entrants include American Bitcoin, which debuted on the Nasdaq last week, and Metaplanet, which increased its holdings to 20,136 BTC through a $15.2 million purchase.
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