Michael Saylor’s Strategy, the largest corporate holder of Bitcoin, on Monday said it has purchased 6,220 BTC for $739.8 million. With the latest purchase, the company has increased its bitcoin holdings to 607,770 BTC. Meanwhile, MSTR stock price rebounds 2% in premarket trading hours.
Michael Saylor’s Strategy Expands Bitcoin Holdings to 607,770 BTC
Strategy purchased an additional 6,220 BTC at $118,940 per Bitcoin between July 14-20, according to an official announcement on July 21. The bitcoin purchases were made using proceeds from the MSTR Class A shares, STRK, STRF, and STRD shares at-the-market (ATM) offerings.
Chairman Michael Saylor took to X to reach out to shareholders and the wider crypto community about the latest Bitcoin purchase worth $739.8 million. He revealed that the company has achieved the BTC Yield of 20.8% year-to-date.
With the latest Bitcoin purchase, Strategy boosted its Bitcoin stash to 607,770 BTC, acquired for $43.610 billion at an average price of $71,756 per Bitcoin.
Last week, Michael Saylor’s Strategy announced a purchase of 4,225 BTC for $472.5 million at an average price of 111,827 per Bitcoin. The firm’s market cap also hit a high of $128.52 billion, largely fueled by Bitcoin’s latest price surge.
As per Saylor tracker, Michael Saylor’s Strategy has nearly $28.3 billion in unrealized gains. The company’s holdings are valued at $71.93 billion as compared to its total investment of $43.62 billion. The company is the largest corporate Bitcoin holder, continuing its position as one of the most successful Bitcoin buyers.
At the time of writing, MSTR stock jumped nearly 2%, with the price trading near $431.95. The stock closed 6.23% lower at $423.22 on Friday. As per Yahoo Finance, the stock rallied 15% in a month and 46% year-to-date.
Investment bank TD Cowen earlier revised its price target on Strategy (MSTR) stock from $590 to $680, maintaining a buy rating on the stock.
Meanwhile, Bitcoin price continues to move mostly sideways amid demand for altcoins such as Ethereum, Solana, and XRP. The 24-hour low and high were $116,550 and $119,671, respectively. Furthermore, the trading volume increased by 40% in the last 24 hours, indicating interest among traders.