Strategy purchased 430 Bitcoin for $51.4 million last week, bringing the world’s largest public Bitcoin holder’s total to 629,376 BTC worth approximately $77.2 billion. The company paid an average price of $119,666 per coin during a week when Bitcoin prices swung wildly between $115,000 and $124,000.
The purchase represents a significant slowdown in Strategy’s buying activity. The company acquired only 430 Bitcoins last week compared to massive purchases in previous months. Between July 14 and August 3, Strategy bought 31,466 BTC across three separate transactions, a sharp increase from the 17,075 BTC purchased in June.
Strategy’s co-founder Michael Saylor has embraced the market turbulence. “Volatility is a gift to the faithful,” Saylor wrote on X as Bitcoin dropped below $118,000 after hitting record highs above $124,000 earlier in the week.
The company filed its latest purchase with the US Securities and Exchange Commission (SEC) on Monday. Strategy has now invested approximately $46.15 billion in Bitcoin at an average cost of $73,320 per coin, making substantial profits as Bitcoin trades near all-time highs.
Corporations Embrace Bitcoin as a Strategic Investment
Bitcoin has emerged as a favored asset class among corporations, increasingly adopted as a strategic investment vehicle. Companies like Strategy and Japanese investment firm Metaplanet are leading the charge, amassing significant Bitcoin holdings to diversify their treasuries and capitalize on the cryptocurrency’s potential.
Metaplanet recently bolstered its portfolio with 775 BTC purchased for $93 million, reflecting confidence in the asset despite its volatility. Data indicates robust corporate adoption, with global companies acquiring thousands of Bitcoin weekly, signaling a growing trend of institutional investment in the world’s leading cryptocurrency.
This notwithstanding, Strategy’s smaller recent purchases may signal a more measured approach compared to its aggressive accumulation strategy earlier this year. However, Saylor continues promoting corporate Bitcoin adoption by sharing updates from other companies building Bitcoin reserves.
Bitcoin’s extreme price movements last week highlighted the cryptocurrency’s ongoing volatility, but companies like Strategy view this volatility as an opportunity, consistently buying during dips, and their holdings of 252,220 BTC have generated unrealized gains of approximately $12-15 billion as Bitcoin hit record highs.
