Breaking: Michael Saylor’s Strategy Adds 3,015 BTC as Bitcoin Holds Steady Despite U.S.-Iran War

Boluwatife Adeyemi
10 hours ago Updated 9 hours ago
Boluwatife Adeyemi is a well-experienced crypto news writer and editor with a focus on macro topics, crypto policy and regulation and the intersection between DeFi and TradFi. He has a knack for simplifying the most technical concepts and making them easy for crypto newbies to understand. Boluwatife is also a lawyer, who holds a law degree from the University of Ibadan. He also holds a certification in Digital Marketing. Away from writing, he is an avid basketball lover, a traveler, and a part-time degen.
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an image of Michael Saylor and the Strategy logo

Highlights

  • Strategy bought 3,015 Bitcoin between February 23 and March 1.
  • This marks the company's 10th consecutive weekly purchase.
  • The MSTR stock is down less than 1% in premarket trading as Bitcoin holds steady.

Michael Saylor’s Strategy, previously MicroStrategy, has announced another weekly Bitcoin purchase, which it made between February 23 and March 1. This comes as BTC holds steady amid the ongoing conflict between the U.S. and Iran. The MSTR stock is also trading flat, mirroring the leading crypto’s price action.

Strategy Acquires 3,015 BTC For $204.1 Million

An SEC filing shows that the company acquired 3,015 BTC for $204.1 million at an average price of $67,700 per Bitcoin. It now holds 720,737 BTC, which it acquired for $54.77 billion at an average price of $75,985 per Bitcoin.

The filing also showed that Strategy made this latest purchase using proceeds from MSTR and STRC stock sales. It raised net proceeds of $229.9 million from the sale of 1.7 million MSTR shares and $7.1 million from the sale of 71,590 STRC shares.

Strategy SEC Filing
Source: Strategy SEC Filing

This development follows Saylor’s hint of another Strategy Bitcoin purchase in his conventional X post yesterday. He posted the company’s BTC portfolio tracker with the caption, “The Turn of the Century.”

This latest purchase comes just a week after Strategy made its 100th BTC purchase, acquiring 592 BTC for $39.8 million. The company has now made 10 consecutive weekly purchases, dating back to December last year.

Saylor and his company continue to accumulate even as BTC trades below their average entry price. The company is notably sitting on an unrealized loss of just over $7 billion. However, Saylor has reiterated several times that they can withstand the current market downtrend and do not need to liquidate their holdings.

Bitcoin is again facing downside risks amid the ongoing U.S.-Iran war. The leading crypto had dropped to as low as $63,000 over the weekend when the U.S. first attacked Iran, but is holding steady above $65,000 today even as tensions between the two countries escalate.

MSTR Stock Opens In The Green

The Strategy stock opened today’s trading session in the green, trading at around $133, up over 2% from last week’s close of 129. This came as Bitcoin climbed above $66,000, up on the day despite crashing to as low as $65,000 in the last 24 hours.

MSTR Daily Chart
Source: TradingView; MSTR Daily Chart

As CoinGape reported, BMNR and other crypto stocks are also holding firm amid the Middle East tensions. This marks a positive, especially considering that the odds of a Monday crash were high over the weekend due to rising oil prices, which threaten to affect inflation.

Meanwhile, it is worth noting that Saylor recently announced that Strategy has increased the Stretch Dividend Rate by 25 basis points (bps) to 11.50% for this month. This is significant because STRC’s ATM has been funding part of the company’s recent BTC purchases. As such, an increase in demand for the Bitcoin-backed security could lead to more frequent BTC purchases from Strategy.

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Why Trust CoinGape

CoinGape has covered the cryptocurrency industry since 2017, aiming to provide informative insights Read more… to our readers. Our journal analysts bring years of experience in market analysis and blockchain technology to ensure factual accuracy and balanced reporting. By following our Editorial Policy, our writers verify every source, fact-check each story, rely on reputable sources, and attribute quotes and media correctly. We also follow a rigorous Review Methodology when evaluating exchanges and tools. From emerging blockchain projects and coin launches to industry events and technical developments, we cover all facets of the digital asset space with unwavering commitment to timely, relevant information.

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About Author
About Author
Boluwatife Adeyemi is a well-experienced crypto news writer and editor with a focus on macro topics, crypto policy and regulation and the intersection between DeFi and TradFi. He has a knack for simplifying the most technical concepts and making them easy for crypto newbies to understand. Boluwatife is also a lawyer, who holds a law degree from the University of Ibadan. He also holds a certification in Digital Marketing. Away from writing, he is an avid basketball lover, a traveler, and a part-time degen.
Investment disclaimer: The content reflects the author’s personal views and current market conditions. Please conduct your own research before investing in cryptocurrencies, as neither the author nor the publication is responsible for any financial losses.
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