Strategy has acquired an additional 6,556 Bitcoin for $555.8 million, increasing its total holdings to 538,200 Bitcoin valued at over $47 billion. This expansion reinforces Strategy’s position as a major corporate holder of Bitcoin. Chairman Michael Saylor emphasises Bitcoin’s superior stability compared to traditional assets, highlighting the absence of counterparty risk. Recently, the company also launched a perpetual stock on Nasdaq to fund further Bitcoin purchases.
Strategy has strengthened its Bitcoin portfolio by acquiring an additional 6,556 Bitcoin for $555.8 million, bringing its total holdings to 538,200 Bitcoin, valued at over $47 billion. This significant investment showcases Strategy as one of the largest corporate holders of Bitcoin. The details of the acquisition were disclosed through a regulatory Form 8-K filing, which revealed that each Bitcoin was purchased at an average price of $84,785.
This latest acquisition is part of Strategy’s broader investment strategy in Bitcoin, which has so far totalled approximately $36.47 billion. Earlier this year, the company acquired 6,911 Bitcoin for $584.1 million when Bitcoin’s price peaked at $87,000. Now, Bitcoin is priced at $87,319.30, reflecting a 3.47% increase in just 24 hours, thereby enhancing the value of Strategy’s Bitcoin reserves significantly.
Strategy’s approach to accumulating Bitcoin reflects a long-term vision, with a focus on utilising its treasury for Bitcoin investments rather than traditional cash holdings or gold. This strategy has attracted both investor attention and enthusiasm from cryptocurrency analysts.
Michael Saylor, Chairman of Strategy, asserts that Bitcoin provides superior value stability compared to traditional assets, highlighting its lack of counterparty risk. Saylor’s unwavering confidence in Bitcoin aligns with the company’s aggressive acquisition strategy and underscores its potential as a safeguard during economic uncertainty.
In related developments, Strategy has launched its perpetual stock, Strife (STRF), on Nasdaq, intended to finance extensive Bitcoin acquisitions. Additionally, Metaplanet, a company emulating Strategy’s model, has joined the ranks of significant public holders by adding 319 Bitcoin to its treasury.
Disclaimer: This article is intended for informational purposes only and should not be regarded as financial or investment advice. Users are encouraged to conduct their own research and consult a financial professional prior to making investment decisions.
