MSTR Stock Gains After Strategy Spends Another $76 Million On Bitcoin While Sitting On $4B Unrealized Loss

• Strategy’s average purchase price of Bitcoin remains higher than Bitcoin’s current price, leaving it with an unrealized loss of nearly $4 billion.
• The latest purchase marks a slowdown after significantly larger buys in the previous two weeks, marking the smallest buy so far this month.
• Retail sentiment around MSTR shares dropped to ‘neutral’ from ‘bullish’ territory over the past day on Stocktwits.

Michael Saylor-backed Strategy (MSTR) announced on Monday that it has acquired more than 1,000 Bitcoin (BTC) over the past week for around $76.6 million, while still sitting on a paper loss of just under $4 billion. 

The company said it had acquired 1,031 BTC for $76.6 million at an average price of $74,326. Strategy’s total holdings now stand at 762,099 BTC, acquired for $57.69 billion at an average cost of $75,694. With the average price still above Bitcoin’s current price, the company is sitting on paper losses of around $4 billion, according to CoinGecko data. 

Strategy Scales Back Weekly Bitcoin Purchases

Monday’s Bitcoin purchase marks the company’s smallest Bitcoin purchase this month. Saylor had been ramping purchases of the apex cryptocurrency of late buying over 22,000 BTC last week and nearly 18,000 BTC the week before that.

MSTR’s stock gained as much as 1.14% in pre-market trade amid a broader rally in the stock and cryptocurrency markets after President Donald Trump announced a five-day delay on any strikes against Iranian energy facilities following “productive talks” over the weekend. 

Bitcoin’s price gained nearly 2.5% in the last 24 hours to cross $70,000 after hitting an intraday low of under $68,000. On Stocktwits, retail sentiment around BTC fell to ‘bearish’ from ‘neutral’ territory over the past day, with chatter at ‘low’ levels.

Meanwhile, retail sentiment around MSTR shares dropped to ‘neutral’ from ‘bullish’ territory over the past day, while chatter fell to ‘normal’ from ‘high’ levels. 

What Is Retail Saying About MSTR's Stock?

One retail user said that if Strategy's keeps accumulating Bitcoin at its current pace, the company will cross the 1 million threshold by October.

Another predicted that MSTR's rally to $200 could kick off this week.

MSTR's stock has fallen over 10% year to date, while Bitcoin's price has tumbled more than 10% this year.

Read also: Bitcoin Price Shoots Above $70,000 After Trump Says US-Iran Held ‘Productive’ Talks

For updates and corrections, email newsroom[at]stocktwits[dot]com.