Strategy adds $51M in Bitcoin as price hit $124K ahead of sharp dip

Michael Saylor’s Strategy, the world’s largest public Bitcoin holder, has added more BTC to its balance as the price swung to new all-time highs before retreating last week.

Strategy acquired 430 Bitcoin for $51.4 million during the week ending Sunday, according to a US Securities and Exchange Commission filing on Monday.

The new Bitcoin batch cost the company an average price of $119,666 per coin, reflecting the massive volatility last week, with BTC trading at around $120,000 on Monday and slipping to as low as $115,000 on Sunday, according to CoinGecko.

The acquisition moved Strategy’s Bitcoin holdings to 629,376 BTC, purchased for about $46.15 billion at an average price of $73,320 per coin.

“Volatility is a gift to the faithful”

As Bitcoin saw high volatility last week, surging above $124,000 last Wednesday only to retreat to $115,000 by the end of the week, Strategy’s co-founder Saylor took to X to comment on the volatile prices.

“Volatility is a gift to the faithful,” he wrote on Thursday amid the BTC price tumbling below $118,000 the next day after reaching new all-time highs.

Saylor also previously reported that Strategy’s Bitcoin holdings closed at an all-time high of $77.2 billion at the all-time high prices.