Strategy Boosts Bitcoin Holdings With Additional 6,220 BTC
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Strategy recently revealed it has acquired 6,220 Bitcoin units for about $739.8 million, at an average price of $118,940 per coin. This latest purchase was made between July 14 and July 20, according to its new filing with the U.S. Securities and Exchange Commission (SEC). This latest move increases Strategy’s total holdings to 607,770 BTC, worth over $71 billion at current prices. It is worth noting that the Nasdaq-listed company spent about $43.61 billion, including fees, on its total holdings. BTC Treasury Reserve Serves as Strategy’s Growth Catalyst This milestone makes Strategy the ninth-largest holder of cash and cash equivalents among S&P 500 companies. Interestingly, this move reflects the firm’s ongoing commitment to utilizing Bitcoin as a key asset in its corporate treasury strategy. Meanwhile, from an investment viewpoint, Strategy’s average cost for Bitcoin is now lower than current market prices, showing significant unrealized gains. As such, the company’s buying strategy shows its role as a leader in adopting digital assets and indicates that more institutions are becoming confident in Bitcoin’s long-term value. Notably, the software intelligence firm said several shares were used to fund its latest Bitcoin purchase. This includes at-the-market shares, operating cash, and convertible note offerings. Strategy Inc’s Long-Term Bitcoin Plan Expands These share sales are part of the U.S.-based firm’s bold “42/42” capital plan, which aims to raise $84 billion for Bitcoin acquisitions by 2027. This is double the original target under the earlier “21/21” plan. To date, Strategy has raised billions by selling shares and convertible notes, with additional funds still available through its ongoing programs. Some analysts believe this premium is justified due to the company’s strong equity-to-Bitcoin cycle. Others, however, have raised concerns about a possible negative feedback loop from overdependence on Bitcoin valuations. A recent class action lawsuit also claims that Strategy misled investors about its Bitcoin strategy . Recall that the Michael Saylor-led company paused its Bitcoin purchases between June 30 and July 6. The pause in Bitcoin purchases comes as the firm shifted focus from selling common stock to offering perpetual stock to raise capital . Despite the pause, Strategy remains the largest corporate holder of Bitcoin. Metaplanet Learns From Strategy Bitcoin Playbook Another firm making giant strides with a growing Bitcoin accumulation strategy is Metaplanet. The Japanese financial leader launched this strategy about a year ago and has remained true to it. In the first week of July, it reported a purchase of 2,205 BTC, worth about $238.7 million at the time. As a result of the acquisition, Metaplanet’s total crypto holdings climbed to 15,555 BTC. As reported by TheCoinRise, the firm aims to accumulate 210,000 BTC by 2027, which is approximately 1% of the total supply. This Bitcoin strategy, which mirrors the company’s approach, has driven significant growth for Metaplanet. The post Strategy Boosts Bitcoin Holdings With Additional 6,220 BTC appeared first on TheCoinrise.com .

Source: The Coin Rise