
Strategy, ever the voracious accumulator, spent $77,906 per token, totaling $255 million. This sum, extracted from the veins of its MSTR at-the-market stock offering, was filed with the US Securities and Exchange Commission-a bureaucratic ritual to sanctify the transaction. The company now holds nearly 4.09% of Bitcoin’s circulating supply, a stake worth $61.81 billion. Yet, what is profit in an age where value is as fleeting as a Siberian winter’s thaw? The price crash in February had briefly humbled Strategy, but the recent rally has restored its crown, albeit with a sheen of uncertainty.