Michael Saylor’s software company, Strategy, has significantly expanded its Bitcoin treasury with a major acquisition, purchasing 4,225 BTC for $472.5 million.
The transaction reflects Strategy’s continued aggressive accumulation strategy, executed as Bitcoin recently surged past $118,000. The company secured the coins at an average price of $111,827 per Bitcoin.
This latest purchase increases Strategy’s total Bitcoin holdings to 601,550 BTC. The company acquired its entire Bitcoin reserve at an average cost basis of $71,268 per coin.
The current market value of Strategy’s Bitcoin holdings is estimated to be approximately $42.87 billion. Year-to-date, the company has added a net total of 88,062 BTC to its holdings, representing nearly $10.9 billion in value.
Strategy’s disciplined pattern of acquisition, despite market fluctuations, reinforces its position as the largest public corporate holder of Bitcoin. This move underscores a strong conviction in Bitcoin’s long-term value proposition.
The company temporarily paused buying activity earlier this quarter, coinciding with a significant $4.2 billion stock sale. Strategy also recently reported substantial unrealized gains on its Bitcoin holdings, valuing them at $14 billion for the second quarter.
Strategy’s transparent approach to reporting its Bitcoin strategy and financial performance continues to set a benchmark for institutional engagement with cryptocurrency.