Strategy Buys More Bitcoin

Strategy, formerly known as MicroStrategy, a business intelligence and business intelligence company, bought an additional 7,633 bitcoins last week for $742 million, according to an announcement Monday.

The average purchase price was $97,255 per bitcoin.

MicroStrategy had previously ended its 12-week buying streak in early February, before its earnings report.

Last week, the company underwent a major rebrand, changing its name and unveiling a new logo featuring a stylized “B,” a clear sign of its increased focus on its bitcoin strategy.

The logo also carries the connotation of a Plan B that the next strategic option is to turn to bitcoin.

With this latest deal, the company now holds a total of 478,740 bitcoins, cementing its position as the largest institutional holder of the digital asset.