Michael Saylor’s Strategy buys the Bitcoin dip, adds 4,048 BTC – CoinJournal
- The acquisition cost $449.3 million, with the company paying an average of $110,981 per coin.
- Following the latest acquisition, Strategy’s total Bitcoin holdings rose to 636,505 BTC.
- The company’s latest purchase follows a series of smaller acquisitions in August.
Strategy, the world’s largest public company holding Bitcoin, led by Michael Saylor, disclosed in a US Securities and Exchange Commission filing on Tuesday that it purchased 4,048 Bitcoin between August 25 and September 1.
The acquisition cost $449.3 million, with the company paying an average of $110,981 per coin.
According to CoinGecko data cited in the filing, the purchases were made as Bitcoin prices briefly climbed above $113,000 before dropping below $108,000 last Friday.
Strategy’s BTC bet
Following the latest acquisition, Strategy’s total Bitcoin holdings rose to 636,505 BTC.
The company has acquired its reserves for approximately $46.95 billion, at an average purchase price of $73,765 per coin.
The company said the latest acquisitions were financed through proceeds from at-the-market sales of its Class A common stock (MSTR) as well as its perpetual preferred stock programs, including Strike (STRK), Strife (STRF), and Stride (STRD).
Strategy reported that it sold 1,237,000 MSTR shares for $425.3 million, with $16.31 billion still available for issue under its at-the-market program.
In addition, the company sold 199,509 STRK shares for about $19 million, with $20.39 billion remaining, 237,931 STRF shares for $26.5 million, with $1.8 billion remaining, and 12,973 STRD shares for $1 million, leaving $4.17 billion available.
August buying activity slows
The company’s latest purchase follows a series of smaller acquisitions in August.
Strategy had announced the purchase of 3,081 BTC last week, along with earlier acquisitions of 430 BTC and 155 BTC in the same month.
Combined with the most recent purchase, the company acquired 7,714 BTC in August, significantly lower than the 31,466 BTC bought in July.
Saylor had signalled the likelihood of additional acquisitions ahead of the filing, posting an update to Strategy’s Bitcoin tracker over the weekend, saying Bitcoin was “still on sale.”
The company also confirmed that a group of investors dropped a class action lawsuit on Thursday.
The lawsuit, filed in May, alleged that Strategy had made false and misleading statements about its investment strategy.
The BTC treasury race
According to data from Bitcoin Treasuries, 163 public companies have adopted some form of Bitcoin acquisition model.
Other large holders include MARA with 50,639 BTC, Tether-backed Twenty One with 43,514 BTC, Adam Back and Cantor Fitzgerald-backed Bitcoin Standard Treasury Company with 30,021 BTC, Bullish with 24,000 BTC, Metaplanet with 20,000 BTC, Riot Platforms with 19,239 BTC, Trump Media & Technology Group with 15,000 BTC, CleanSpark with 12,703 BTC, and Coinbase with 11,776 BTC.
