Strategy jumps back into bitcoin with $370 million purchase

00:00 Speaker A

We got to talk about Michael Sailor. It's become a tradition and today we have a lot to talk about. If you miss the news, here it is.

00:09 Speaker A

Sailor strategy restarts Bitcoin buying, spending 370 million dollars. So,

00:20 Speaker A

they purchased 4,603 Bitcoin for $369.7 million paying an average of 80,318 per Bitcoin. Now, if you pay attention,

00:36 Speaker A

you tend to see that the highest price of the week is the price that Sailor and strategy buy Bitcoin at.

00:43 Speaker A

I don't know what formula they're using. I don't know how they time the market, but they tend to always buy the high in whatever period they are buying.

00:54 Speaker A

So this was their first Bitcoin purchase in roughly two months, actually almost 10 weeks and strategy now owns 845,050 Bitcoin

01:06 Speaker A

acquired for $63.73 billion at an average price of $75,412. So right now,

01:14 Speaker A

Sailor after being underwater by over $10 billion is back in profit.

01:21 Speaker A

But the big story here is not that they bought Bitcoin or that they bought Bitcoin higher, it's how they bought Bitcoin.

01:30 Speaker A

And they did it by selling 4.53 million newly issued MSTR shares, which raised 602.8 million. But whoa, whoa, whoa, whoa.