Recently, Strategy announced the acquisition of 6,220 Bitcoin for $739.8 million, continuing to expand its cryptocurrency assets.
Bitcoin Acquisition Strategy
The company acquired 6,220 Bitcoin from July 14 to July 20 at an average price of $118,940 per coin. This raises the company's total to 607,770 BTC, worth over $71 billion at current prices. Overall investments in Bitcoin amount to about $43.61 billion, including fees.
Long-Term Plans of the Company
Strategy is the ninth largest holder of cash and equivalents among S&P 500 companies. The average price paid for Bitcoin is lower than current market prices, indicating significant unrealized gains. The firm used various funding methods, including share sales and convertible notes, to finance the latest Bitcoin purchase. Under its '42/42' plan, Strategy aims to raise $84 billion for Bitcoin acquisitions by 2027.
Metaplanet's Experience
Another firm making strides in Bitcoin accumulation is Metaplanet, which reported a purchase of 2,205 BTC worth approximately $238.7 million in early July. Metaplanet's total crypto holdings now stand at 15,555 BTC, with a goal to accumulate 210,000 BTC by 2027.
The Bitcoin accumulation strategy demonstrates that companies like Strategy and Metaplanet aim to leverage digital assets as part of their long-term financial strategies.
