Strategy (formerly MicroStrategy) reported the purchase of 6,222 bitcoins from July 14 to July 20 for $739.8 million at an average purchase price of $118,940 per bitcoin.
As of July 20, Strategy holds 607,770 bitcoins (3% of the total supply), for which the company has spent approximately $43.61 billion since 2020 at an average purchase price of $71,756 per BTC.
With the rise in price, Michael Saylor's company's unrealized profit from bitcoin investments has exceeded $30 billion. This is significantly more than its debt obligations from bonds, through which the company raised most of its capital to purchase bitcoins on its balance sheet.
According to documents, the funds for purchasing the new batch of bitcoins were raised through the issuance of shares — both common (MSTR) and preferred (STRK, STRF, and STRD). We discussed what these assets are and how Strategy uses them to attract capital for purchasing cryptocurrency in our June article.
