 
 
Bitcoin treasury company Strategy announced another BTC buy on Monday, bringing the Nasdaq-listed firm’s holdings to 632,457 BTC — or over $70 billion in digital coins at the current price — as it extends its Bitcoin treasury program.
Strategy Adds 3,081 BTC To Stack
According to Form 8-K filed with the U.S. Securities and Exchange Commission, Strategy bought an additional 3,081 Bitcoin for $356.9 million over the last week as BTC kicked off the week at around $116,700 and dipped to a local low of $110,788 today, CoinGecko data shows.
The Tysons Corner, Virginia-based company said the latest tranche was executed at an average $115,829 per coin, pushing its aggregate cost basis to $46.50 billion and its overall average purchase price to $73,527 per Bitcoin.
Strategy’s Bitcoin stash, which is now at 632,457 BTC, cements its lead among public corporate holders. These holdings are equivalent to just around 3% of Bitcoin’s total supply.
The latest buy followed a weekend hint from Executive Chairman, Michael Saylor, who posted “Bitcoin is on sale” alongside a SaylorTracker graphic of the company’s holdings.
 
Last week’s Bitcoin acquisition was mostly funded through sales of common stock, from which Strategy raised $300.9 million. Slight sales of three of the four MSTR preferred stock issues accounted for the rest of the funding.
Notably, the latest Bitcoin acquisition came after two small buys, including a 430 BTC buy announced last Monday and a 155 BTC purchase the previous week.
Following the new purchase, Strategy has snapped up 3,666 BTC this month, a notable decline from the 31,466 BTC acquired in July. In June, Strategy bought 17,075 BTC.
As Strategy’s BTC buying pace slows over the last three weeks, observers will be waiting to see whether the firm will make a massive purchase in the final week of August or decide to limit its buys.
Corporate Bitcoin Treasury Adoption Frenzy
Saylor previously stated that the Bitcoin treasury firm could end up holding upwards of 7% of the top cryptocurrency’s total supply of 21 million coins. Acquiring 7% of the total-ever Bitcoin supply would give the company around 1.4 million BTC, currently valued at about $157 billion.
Beyond Strategy, an increasing number of publicly traded companies, including Galaxy Digital, MARA Holdings, Semler Scientific, and Metaplanet, have adopted Bitcoin treasury strategies. Nonetheless, Strategy remains the trailblazer.
Source: https://zycrypto.com/michael-saylors-strategy-buys-the-dip-as-bitcoin-treasury-swells-to-632457-btc/
