Strategy Buys 6220 More Bitcoin, But July Buys Slow
Main Idea
MicroStrategy continues to be the largest public holder of Bitcoin with significant investments, while the UK government plans to sell seized Bitcoin to address budget deficits.
Key Points
1. MicroStrategy purchased 6,220 BTC for $739.8 million, increasing its total holdings to 607,770 BTC valued at over $72 billion.
2. The company's Bitcoin yield rose to 20.8%, nearing its 25% target, with a peak yield of 74.3% in 2024.
3. The UK government is preparing to sell over £5 billion ($6.7 billion) worth of seized Bitcoin, mostly confiscated from a Chinese Ponzi scheme, to help close a national budget deficit.
4. The seized Bitcoin is subject to legal disputes involving victims and Chinese authorities, with at least 61,000 BTC ($7.1 billion) originally confiscated in 2018.
5. MicroStrategy's July Bitcoin purchases totaled 10,455 BTC, a slowdown compared to previous months (17,075 BTC in June, 26,695 BTC in May, and 25,370 BTC in April).
Description
This latest buy brought its total holdings to 607,770 BTC valued at over $72 billion. Despite a slight slowdown in monthly acquisitions compared to previous months, Strategy is still the largest public holder of Bitcoin. Its Bitcoin yield also rose to 20.8% after this latest purchase. Meanwhile, in stark contrast, the UK government is preparing to sell over £5 billion ($6.7 billion) worth of seized Bitcoin to help close a national budget deficit. The crypto was mostly confiscated from a Chinese ...
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