Bitcoin Falls Below Strategy's Average Purchase Price, Unrealized Loss on Holdings About $500 Million

TechFlow news, November 9: According to The Defiant, Bitcoin fell below Strategy's average purchase cost of $75,451 per BTC on November 8 U.S. Eastern Time. The Coinbase BTC-USD market traded at $74,862.89 at 05:54 Beijing Time on November 9.

Strategy previously disclosed that as of November 1 it held 849,327 BTC at a purchase cost of $64.08 billion (including fees). Based on the above quote, the holdings are worth about $63.58 billion, roughly $500 million below the purchase cost.

The report noted that Strategy said in its quarterly report for the period ended September 30 that none of its Bitcoin holdings had been pledged as collateral; as of November 1, the company also had $4.79 billion in reserves to support preferred stock dividends and interest payments.

Source: TechFlow