Michael Saylor's software firm Strategy has purchased an additional $110 million worth of Bitcoin, marking its ninth consecutive week of acquisitions. This latest buy adds to Strategy's holdings, which now total approximately 582,000 Bitcoin, valued at about $62.7 billion based on current market prices. The firm, previously known as MicroStrategy, made this acquisition between June 2 and 8, marking its fourth smallest purchase of the year. Since mid-April, Strategy has spent roughly $5.1 billion on Bitcoin. Despite its aggressive buying strategy, the company's stock price remains under scrutiny amidst market volatility and competition from other Bitcoin holders. Concurrently, Strategy announced it raised $112 million through preferred stock sales to support its Bitcoin buying activities. As institutional interest in Bitcoin grows, Strategy continues to navigate various challenges and adapt its strategies to maintain its position in the Bitcoin market.

Source 🔗