Strategy Continues Bitcoin Shopping Spree With $532 Million BTC Buy

Strategy has purchased an additional 4,980 Bitcoin worth $532.6 million, based on current prices, marking its largest purchase of the cryptocurrency in roughly five weeks. 

The Virginia-based company bought the coins for $106,801 per BTC between June 23 and 29, its filing with the SEC shows. This latest acquisition puts Strategy’s Bitcoin holdings 597,325 BTC worth $63.8 billion as of writing time.

Bitcoin was recently trading just below $107,000, down about 1% over the past 24 hours, according to data provider CoinGecko.

Strategy stock is trading at $393.74 as of writing time, up 2.5% in the past day, Yahoo Finance data shows.

The company’s latest Bitcoin buy comes as a growing variety of public companies and other entities have embraced the world’s oldest cryptocurrency. 

Roughly 140 publicly traded firms have amassed some Bitcoin for their corporate treasuries as of publication time, holding a combined $90.6 billion worth of the asset based on current prices, according to bitcointreasuries.net. Strategy’s holdings account for nearly 70% of that total amount, making it the largest corporate holder of Bitcoin, the data provider’s website shows. 

Another 31 private companies also have added Bitcoin to their balance sheets, holding a combined total of $31.2 million worth of the asset, the same data shows. 

Strategy’s latest buy comes as those other companies are doubling down on their BTC treasury plans in a bid to emulate the firm, which began snapping up the asset under the guidance of co-founder and Executive Chairman Michael Saylor in 2020. Strategy had previously focused on software development. 

Metaplant, which bills itself as the Strategy of Japan, announced on Sunday that it had added another 1,005 BTC to its balance sheet, bringing its total holdings of the token to 13,350 BTC—over $1.4 billion worth. Semler Scientific and GameStop are among other companies that have made recent Bitcoin purchases.

Edited by James Rubin