Strategy Bitcoin Buying Resumes, Bags 7,633 BTC for $742M

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Strategy Bitcoin Buying Resumes, Bags 7,633 BTC for $742M

Newly rebranded Bitcoin firm Strategy has bought a new batch of 7,633 BTC after it took a brief pause in its 12-week accumulation run

After pausing its 12-week Bitcoin buying streak, Michael Saylor, Executive Chairman of Strategy, announced Monday that the company has increased its total Bitcoin holdings to 478,740 BTC. This marks the company’s first Bitcoin acquisition since its rebranding last week.

Strategy Acquires 7,633 Bitcoin for $742 Million

In a press release shared on X, Saylor revealed that the Virginia-based firm purchased an additional 7,633 BTC for $742 million. While the average purchase price per Bitcoin was $97,255, the company has achieved a Year-to-Date (YTD) Bitcoin yield of 4.1%.

Currently, Strategy holds 478,740 BTC, valued at over $46 billion. According to Saylor, the company’s total Bitcoin holdings were acquired at an average price of $65,033 per Bitcoin, amounting to approximately $31.1 billion, including fees and expenses.

New Name, Same BTC Strategy

One might assume that Strategy’s recent losses and rebranding would slow down the company’s Bitcoin acquisition strategy.

However, despite its recent rebranding, Strategy remains more focused and increasingly committed to its Bitcoin acquisition plan. Rather than changing direction, the company has only intensified its approach.  

For context, its latest acquisitions follow the sale of 516,413 shares of its Class A common stock, raising $179 million, and 7,300,000 shares of its 8.00% Series A Perpetual Strike Preferred Stock, generating $563.4 million.

In addition, as of February 9, the company reported that approximately $4.17 billion worth of shares remained available for sale under its “21/21 plan.” 

The plan will see it raise $42 billion through equity offerings and fixed-income securities to fund continued Bitcoin acquisitions.

Long-Term Bitcoin Commitment

On Sunday, while providing an update on Strategy’s Bitcoin holdings, Saylor reaffirmed the company’s long-term commitment to accumulating more BTC. He emphasized that their Bitcoin Treasury push remains a priority, hinting at further acquisitions in the coming months.

Interestingly, Strategy’s approach as an institutional investor is increasingly becoming a trend among corporate investors.

Last December, several other institutional investors, including the Vancouver City Council, approved a motion to accept BTC for tax and fee payments. Interestingly, more firms are now exploring similar moves.


DisclaimerThe information provided in this article is for informational purposes only. It does not constitute investment, financial, trading, or any other sort of advice. You should not treat any of BGECrypto’s content as such. BGEcrypto does not recommend that any cryptocurrency should be bought, sold, or held by you. Do your due diligence and consult your financial advisor before making any investment decisions.

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