Strategy, formerly known as MicroStrategy, reported the purchase of 4,980 Bitcoin for $531.9 million. This reflects its unwavering commitment to BTC accumulation despite volatile cryptocurrency prices.
New BTC Purchase
According to a filing with the US Securities and Exchange Commission, Strategy purchased 4,980 Bitcoin at an average price of $106,801 per token between June 23 and 29. This brings the total BTC holdings of Strategy to 597,325, now valued at approximately $64 billion based on a current market price of around $107,328 per Bitcoin.
History of Strategy's Accumulation
Strategy began accumulating Bitcoin in August 2020 with an initial purchase of 21,454 BTC. The company currently owns over 2.8% of Bitcoin’s total 21 million supply. The latest acquisition was funded through a combination of proceeds from STRD issuance and an at-the-market share sale program.
Other Companies Follow Suit
The success of Strategy has inspired many other companies. Among them is Metaplanet, which recently became the world's fifth-largest corporate holder of Bitcoin. Other companies, such as Trump Media, GameStop, and Semler Scientific, have also adopted the Bitcoin accumulation model pioneered by Strategy.
Strategy's approach to Bitcoin accumulation and its recent purchases continue to attract attention from other market players, potentially setting new trends in corporate cryptocurrency strategies.
