Bitcoin’s worth shot up to $122,290 on Sunday night, just before Strategy—formerly MicroStrategy—grabbed 155 BTC for $18 million to mark five years of its bold Bitcoin plan. They snagged the coins at an average rate of $116,401 each, upping their stash to 628,946 BTC, which is about 3% of all Bitcoin out there.
Monday’s SEC filing revealed Strategy used cash from its STRF ATM offer and an earlier IPO of Variable Rate Series A Perpetual Stretch Preferred Stock to fund this buy. Altogether, they’ve put $46.1 billion into Bitcoin, averaging $73,288 per coin.
Michael Saylor, the Chairman of Strategy, chimed in on X, saying, “If you don’t stop buying Bitcoin, you won’t stop making money,” as he reflected on their journey since their first purchase on August 11, 2020. Back then, they bought 21,454 BTC for $250 million at around $11,400 per coin.
Although this latest buy is smaller compared to their July pickup of 21,021 BTC, it shows their strong belief in gathering more Bitcoin. As more and more companies dive into Bitcoin, public firms with Bitcoin on their balance sheets are reaching all-time highs.
Strategy’s unwavering approach to accumulating Bitcoin, regardless of how the market swings, is reshaping corporate treasury moves. Their success? It’s nudging other companies to consider Bitcoin seriously.
Their stash has soared since they started, with Bitcoin’s price jumping 960% from about $11,400 to close to $120,000. This growth has proven the worth of Strategy’s decision to lean into Bitcoin five years ago.
Strategy’s got several ATM offering programs worth over $40 billion, including common and preferred stock. In the week ending August 10, they sold 115,169 STRF shares, making $13.6 million, which helped fund this latest Bitcoin grab.
Saylor’s upbeat about Bitcoin’s future, promising to keep buying even if prices climb. He also reaffirmed his bold vision that Bitcoin might reach $21 million in 21 years.
This recent purchase might seem small compared to past splurges, but it underscores the firm’s dedication to Bitcoin long-term. Their methodical way of stockpiling Bitcoin is setting a new trend in finance.
The market’s reacting well to Strategy’s non-stop Bitcoin buying, with institutional interest climbing. Lately, big corporations have jumped on this train, snapping up Bitcoin, which includes major tech and financial players.
