Strategy announced another Bitcoin purchase just days before the end of the year despite mounting criticism.
The company disclosed the acquisition of 1,229 Bitcoin for a total value of $108.8 million.
Michael Saylor, executive chairman of Strategy, revealed the purchase in a social media post.
The average price paid for the latest Bitcoin purchase was approximately $88,568 per coin.
The transaction lifted Strategy’s total Bitcoin holdings to 672,497 BTC.
The company has spent more than $50 billion accumulating Bitcoin over several years.
Strategy’s average acquisition cost now stands at roughly $74,500 per Bitcoin.
The latest purchase followed a recent increase in the company’s dollar reserves.
Saylor hinted at the move by posting “back to orange” on social media days earlier.
The acquisition comes during a challenging year for both Bitcoin and Strategy shares.
Bitcoin is heading toward a negative performance year amid broader market pressure.
Strategy built a reserve exceeding $2 billion to cover dividends and interest obligations.
The reserve was funded primarily through ongoing share sales.
Critics argued the share sales diluted existing shareholders.
Bitcoin critic Peter Schiff questioned the logic behind deploying reserves into Bitcoin.
What is the point of selling down your Treasury reserve to buy even more Bitcoin.
Peter Schiff said.
He also noted that Strategy’s stock trades at a discount to the Bitcoin it holds.
Shares of Strategy have fallen more than 45% year to date.
Despite the decline, Saylor has remained publicly bullish on Bitcoin.
Saylor recently described the current environment as a time to “ride the bear.”
Strategy remains the largest corporate Bitcoin holder globally by a wide margin.
The firm continues to pursue an aggressive accumulation strategy despite volatility.
Market observers say Strategy’s approach reflects long-term conviction over short-term performance.
Critics remain divided on the sustainability of funding Bitcoin purchases through equity issuance.
Supporters argue the strategy increases leverage to future Bitcoin upside.
Strategy’s latest move underscores its commitment to Bitcoin regardless of market sentiment.
At the time of reporting, Bitcoin price was $87,088.02.