TLDR
- Strategy bought 4,225 BTC for $472.5M between July 7–13 at an average price of $111,827 per BTC.
- Total Bitcoin holdings by Strategy now stand at 601,550 BTC, acquired for $42.87B.
- Strategy funded the latest purchase through $330.9M in MSTR share sales and $141.4M from other securities.
- MSTR stock rose over 2% in premarket trading, reaching around $443 following the Bitcoin purchase news.
Strategy, formerly MicroStrategy, has added 4,225 Bitcoin to its holdings in a $472.5 million purchase, becoming the first public company to hold over 600,000 BTC. The purchase was completed between July 7 and July 13. The company’s stock (MSTR) rose in premarket trading following the announcement.
Strategy Acquires More Bitcoin, Pushes Total Holdings Over 600,000 BTC
In a filing with the U.S. Securities and Exchange Commission (SEC), Strategy disclosed that it had acquired 4,225 BTC at an average price of $111,827 per coin. The purchase increased the company’s total Bitcoin holdings to 601,550 BTC. This new milestone makes Strategy the only publicly traded company to hold more than 600,000 Bitcoin.
Strategy has spent approximately $42.87 billion on its total Bitcoin holdings to date. The average cost per Bitcoin now stands at $71,268. According to the company, this move has brought its Bitcoin yield to 20.2% year-to-date. The latest acquisition follows a brief pause in its purchasing activities during the first week of July.
The company had paused its buying during July 1–6, marking a break after 12 consecutive weeks of Bitcoin purchases. Michael Saylor, co-founder and chairman of Strategy, hinted at the latest buy on social media, posting, “Some weeks you don’t just HODL.”
Stock Sales Fund Bitcoin Acquisition
Strategy funded the recent Bitcoin acquisition through the sale of various securities. The company raised $330.9 million through the sale of MSTR common shares. It also raised additional capital through the sale of other instruments, including $71.1 million from STRK, $55.3 million from STRF, and $15 million from STRD.
Earlier in the month, Strategy announced a $4.2 billion offering under its at-the-market (ATM) equity program. It confirmed that net proceeds from this offering would be used to acquire more Bitcoin. The capital raised helped fund this $472 million purchase.
The SEC filings also revealed that Wei-Ming Shao, Strategy’s Senior Executive Vice President, sold 62,500 MSTR shares between July 9 and July 11. These sales were valued at about $25.7 million and occurred shortly before the latest acquisition was announced.
Bitcoin and MSTR Prices Rise Together
Bitcoin reached new all-time highs last week, increasing from $108,000 to $118,000. On Monday, the price surged again, hitting as high as $123,000. The increase in Bitcoin’s price has coincided with a rise in Strategy’s stock.
According to TradingView data, MSTR is currently trading at around $443 in premarket, up from a closing price of $434 last week. The price move reflects the close link between Bitcoin’s performance and Strategy’s stock value due to the company’s large crypto holdings.
Strategy’s acquisition also brought its year-to-date Bitcoin gains to 88,062 BTC, valued at $10.9 billion. The company’s total gain in 2024 was 140,538 BTC, or approximately $13 billion. These figures were included in its quarterly filings.
Strategy Maintains Long-Term Bitcoin Strategy
The recent acquisition is the first officially disclosed Bitcoin purchase for July. It comes after a short break in buying activity. A similar pause was observed in April, likely timed with the release of quarterly earnings reports.
The company’s steady approach to acquiring Bitcoin appears to continue as it raises funds through stock offerings. Michael Saylor has remained vocal about Bitcoin on social media, continuing to share updates aligned with the company’s purchase activity.
Strategy’s total Bitcoin portfolio now places it far ahead of any other publicly traded company in terms of crypto holdings.
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