Strategy recently jumped into Bitcoin only to face a sharp decline, but their plans for accumulating more remain unchanged!

TradingKey - Last week, Strategy purchased a significant amount of Bitcoin, and today, BTC prices plummeted. However, this does not seem to deter the company from continuing its buying spree. 

On Monday evening, the "Bitcoin shadow company" Strategy announced that between February 18 and February 23, they used funds raised through a zero-interest convertible bond issuance to acquire over 20,000 Bitcoins at an average price of $97,514.

Content shared by Strategy founder Michael Saylor, source: X.

After Strategy's acquisition, Bitcoin experienced a noticeable drop. In the past 24 hours, Bitcoin fell nearly 5%, approaching the $90,000 support level, currently sitting at $92,111.

Bitcoin price chart, source: TradingView.

Although Bitcoin prices have dipped below the cost basis of the Bitcoins purchased by Strategy last week, they still hold a substantial amount at a different cost basis. According to data, Strategy currently holds approximately 499,000 Bitcoins, with an average cost of $66,357 each. 

On January 3 of this year, Strategy announced plans to issue $21 billion in equity and $21 billion in fixed-income instruments over the next three years to buy more Bitcoin. The transaction disclosed last night is just a small part of that plan, indicating that larger moves may be on the horizon.