Strategy Buys $1.3 Billion in Bitcoin as War in Iran Escalates. The Stock Climbs. — Barrons.com
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By Mackenzie Tatananni
Strategy snapped up more than $1 billion worth of Bitcoin last week as fighting escalated in the Middle East and cryptocurrency prices wavered.
The company, which is the world's largest corporate Bitcoin holder, purchased 17,994 tokens for an aggregate price of $1.28 billion — $70,946 apiece — in the week of March 2, according to a securities filing on Monday.
With this purchase, Strategy's holdings stand at to 738,731 Bitcoins acquired for an average price of $75,862 each.
The price of Bitcoin hovered around $68,886 on Monday, up 2.3% over the prior 24 hours, according to CoinDesk data. The token had held relative steady during the first few days of the war in Iran, but fell on Friday as the prospects for an extended conflict increased.
Early in the trading session, Strategy stock climbed 3% to $137.44. The three major indexes were in the red; the benchmark S&P 500 down 1.1%.
"The Second Century Begins," was a social media post from Strategy's chairman, Michael Saylor, on Sunday. His posts, which feature a chart of the company's Bitcoin buying, usually signal a coming purchase update.
Write to Mackenzie Tatananni at mackenzie.tatananni@barrons.com
This content was created by Barron's, which is operated by Dow Jones & Co. Barron's is published independently from Dow Jones Newswires and The Wall Street Journal.
source: https://www.tradingview.com/news/DJN_DN20260309005510:0/
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