Strategy Buys More Bitcoin as Tariff Exemptions Send Tech Stocks Soaring
Strategy, formerly known as MicroStrategy, has acquired approximately 3,450 Bitcoin valued at $286 million for the third consecutive week, bringing its total holdings to 531,644 Bitcoin worth $45.2 billion. The firm paid an average price of $82,600 per Bitcoin last week. This move coincides with a rise in the Nasdaq, which surged by 1.5% following the White House's announcement of tariff exemptions on tech goods from China. Despite previous market concerns where Strategy's shares dropped significantly, they rose 4% to around $312 on Monday. Meanwhile, Metaplanet, a Tokyo-listed firm, purchased 319 Bitcoin for about $26.3 million and plans to increase its holdings by 470%. Strategy continues to hold the title of the world's largest corporate Bitcoin holder, owning more than 2.5% of Bitcoin's total supply, significantly outpacing competitors like Marathon Digital, which holds around 47,500 Bitcoin.
Source đź”—