Strategy's BTC purchases fall to five-year low

Strategy's (MSTR) additional Bitcoin purchases have fallen to their lowest level in five years, Protos reported. The company, which announced it had bought a total of 368 BTC on Oct. 13 and Oct. 20, saw its acquisition volume this quarter amount to just 0.1% of its total holdings. The report also noted that Strategy's share price is trading at 1.4 times its net asset value (mNAV), a significant drop from a previous high of over 3.2 times. Although founder Michael Saylor has stated plans to increase BTC purchases through preferred stock (STRC), the current acquisition rate remains at a multi-year low.