Bitcoin (BTCUSD) treasury and analytics company Strategy (MSTR) (formerly MicroStrategy) is making full use of the crypto winter in recent times. After pouring in more than a hundred million dollars last week, the world's largest Bitcoin treasury company added 13,627 tokens of the world's largest cryptocurrency for $1.25 billion. The average purchase price per share was $91,519 per token. With this latest purchase, Strategy now holds 687,410 coins for an average price of $75,353 per token for a total consideration of $51.8 billion.
Strategy's additions smack of an opportunistic move on the part of the company after Bitcoin has remained flat in the past year. Compared to other risk-off assets (since Bitcoin is considered digital gold), such as gold (+71.91%), silver (+193.07%), and copper (+37.83%), the underperformance could not have been starker. This came about even though perceived tailwinds such as rising geopolitical tensions, de-dollarization efforts around the world, and global central banks' shift from the dollar as a haven became stronger trends over the last years.
