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Strategy Resumes Bitcoin Buys, Boosting Holdings to Over $72 Billion in BTC

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Strategy Resumes Bitcoin Buys, Boosting Holdings to Over  Billion in BTC
Written by Web3tatafo

In brief

  • Strategy purchased more than $472 billion in Bitcoin.
  • The Tysons Corner, Virginia-based company now holds 601,550 digital coins—worth over $72 billion.
  • Bitcoin on Monday hit a new all-time high of $122,838 before retreating.

Bitcoin treasury Strategy now holds 601,550 BTC  worth nearly $73 billion after announcing its latest buy on Monday. 

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

The BTC purchases occurred during a week when Bitcoin hit multiple new highs. Other treasuries also added to their holdings during the week. Japanese real estate company Metaplanet said Monday that it had bought more BTC last week, and now holds 16,352 BTC—or $1.9 billion in crypto. 

And public company KULR, which provides energy storage solutions for aerospace and defense companies, said last week that it bought an additional 90 BTC for $10 million. The firm now holds 1,021 BTC  worth $123 million in the asset.

Bitcoin was trading at about $119,850 on Monday after retreating from its latest record high near $123,000, according to crypto data provider CoinGecko. The asset over the past week has surged by 12%.

Tysons, Virginia-based Strategy’s stock (MSTR) was trading 1.9% higher Monday morning Eastern time at a price of $442.50 per share, according to Yahoo Finance.

Company founder and chairman Michael Saylor kicked off Strategy’s Bitcoin buying masterplan on August 11, 2020, with a $250 million investment in the cryptocurrency.

Saylor has called it “digital gold” and a better alternative to holding cash.

Strategy has the largest corporate holdings in the world. The company’s stock is up 2,960% since its first BTC buy five years ago. 

Other publicly traded companies that have built Bitcoin treasuries also include Semler Scientific GameStop, and Tesla

Edited by James Rubin

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https://decrypt.co/330031/strategy-resumes-bitcoin-buys-holdings-72b-in-btc

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