Strategy Boosts Bitcoin Holdings With Latest $739.8 Million BTC Purchase

Strategy, the world‘s largest corporate holder of Bitcoin, announced Monday that it bought 6,220 Bitcoin worth $739.8 million. 

The Nasdaq traded company now holds 607,770 BTC, according to an SEC filing . That‘s over $72 billion in the cryptocurrency based on the current price. 

Michael Saylor said on X that Strategy bought the coins last week at an average price of $118,940. 

Strategy‘s has purcahsed its overall Bitcoin holdings at an average price of $71,756. 

Bitcoin hit a new high of $122,838 earlier this month. BTC was recently trading at about $118,980, roughly flat over the past 24 hours but down 2.4 over a seven-day period, according to crypto data provider CoinGecko. 

Strategy (formerly MicroStrategy) started off as a software firm, selling data-analyzing products to major companies, but in 2020, it started buying Bitcoin to generate better returns for investors. 

Last week, Strategy said it bought 4,225 BTC for $472 million from July 7 to 13 at an average of $111,827 per coin. The company had paused its Bitcoin buying after weekly purchases the previous two months.

Tysons, Virginia-based Strategy‘s stock is up 2,867 since it pivoted to a Bitcoin strategy. MSTR was trading for a little over $435 per share on Monday morning (ET). 

Other, smaller companies on the Nasdaq have also started buying Bitcoin and even rebranded to Bitcoin treasury firms. They include Semler Scientific, Core Scientific, Metaplanet and KULR Technology Group. 

According to bitcointreasuries.net, 155 publicly traded companies hold nearly 870,000 Bitcoin.