Michael Saylor’s Strategy has deepened its commitment to Bitcoin by acquiring an additional 6,220 BTC, bringing its total holdings to a massive 607,770 BTC. The company confirmed that the new purchase cost $739.8 million, with each coin acquired at an average price of $118,940. This latest buy occurred between July 14 and 20 and was funded using proceeds from various at-the-market offerings of Strategy’s Class A and associated shares (STRK, STRF, and STRD).
Saylor, who serves as chairman of the company, took to X to share the news directly with investors, noting that the firm’s Bitcoin investment has delivered a 20.8% yield so far this year. With this latest acquisition, Strategy’s total Bitcoin stash has a purchase value of $43.61 billion at an average cost of $71,756 per BTC.
This move follows a similar announcement last week, when the firm revealed the purchase of 4,225 BTC for $472.5 million at a slightly lower average price. With the recent uptrend in Bitcoin’s price, Strategy’s unrealised gains have now climbed to approximately $28.3 billion. The firm’s Bitcoin holdings are estimated to be worth around $71.93 billion.
MSTR, the company’s stock, reacted positively to the announcement, climbing 2% in premarket trading to about $431.95. This follows a Friday close of $423.22 after a 6.23% dip. Over the past month, the stock has risen by 15% and has gained 46% year-to-date. Investment firm TD Cowen recently updated its price target for MSTR from $590 to $680 while maintaining a buy rating.
Meanwhile, Bitcoin is trading relatively flat, with recent price movement ranging between $116,550 and $119,671. However, trading volume has surged 40% in the past 24 hours, suggesting renewed interest among market participants, especially as attention shifts to altcoins like Ethereum, Solana, and XRP.
