Michael Saylor’s Strategy Adds 3,015 BTC as Bitcoin Holds Steady Despite U.S.-Iran War

• Strategy bought 3,015 Bitcoin between February 23 and March 1.

• This marks the company’s 10th consecutive weekly purchase.

• The MSTR stock is down less than 1% in premarket trading as Bitcoin holds steady.

Michael Saylor’s Strategy, previously MicroStrategy, has announced another weekly Bitcoin purchase, which it made between February 23 and March 1. This comes as BTC holds steady amid the ongoing conflict between the U.S. and Iran. The MSTR stock is also trading flat, mirroring the leading crypto’s price action.

An SEC filing shows that the company acquired 3,015 BTC for $204.1 million at an average price of $67,700 per Bitcoin. It now holds 720,737 BTC, which it acquired for $54.77 billion at an average price of $75,985 per Bitcoin.

The filing also showed that Strategy made this latest purchase using proceeds from MSTR and STRC stock sales. It raised net proceeds of $229.9 million from the sale of 1.7 million MSTR shares and $7.1 million from the sale of 71,590 STRC shares.

This development follows Saylor’s hint of another Strategy Bitcoin purchase in his conventional X post yesterday. He posted the company’s BTC portfolio tracker with the caption, “The Turn of the Century.”

This latest purchase comes just a week after Strategy made its 100th BTC purchase, acquiring 592 BTC for $39.8 million. The company has now made 10 consecutive weekly purchases, dating back to December last year.

Saylor and his company continue to accumulate even as BTC trades below their average entry price. The company is notably sitting on an unrealized loss of just over $7 billion. However, Saylor has reiterated several times that they can withstand the current market downtrend and do not need to liquidate their holdings.

Bitcoin is again facing downside risks amid the ongoing U.S.-Iran war. The leading crypto had dropped to as low as $63,000 over the weekend when the U.S. first attacked Iran, but is holding steady above $65,000 today even as tensions between the two countries escalate.

The Strategy stock opened today’s trading session in the green, trading at around $133, up over 2% from last week’s close of 129. This came as Bitcoin climbed above $66,000, up on the day despite crashing to as low as $65,000 in the last 24 hours.

As CoinGape reported, BMNR and other crypto stocks are also holding firm amid the Middle East tensions. This marks a positive, especially considering that the odds of a Monday crash were high over the weekend due to rising oil prices, which threaten to affect inflation.

Meanwhile, it is worth noting that Saylor recently announced that Strategy has increased the Stretch Dividend Rate by 25 basis points (bps) to 11.50% for this month. This is significant because STRC’s ATM has been funding part of the company’s recent BTC purchases. As such, an increase in demand for the Bitcoin-backed security could lead to more frequent BTC purchases from Strategy.

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Breaking: Michael Saylor’s Strategy Adds 3,015 BTC as Bitcoin Holds Steady Despite U.S.-Iran War originally appeared on CoinGape