Strategy, which continues to purchase Bitcoin (BTC) without slowing down, recently bought an additional 6,220 BTC for a total of $739.8 million, increasing its total reserve to 607,770 BTC.
Known as the world's largest publicly traded Bitcoin investor, Strategy purchased a total of 6,220 BTC at an average price of $118,940 between July 14-20. With this purchase, the company's Bitcoin reserve reached approximately $71.6 billion, and it was stated in the official documents submitted to the U.S. Securities and Exchange Commission (SEC) that the total acquisition cost was $43.61 billion.
The announcement last week that Strategy acquired 4,225 BTC worth $472.5 million shows how determined the company is in maintaining this aggressive buying strategy. The company typically finances these purchases through cash generated from its operations and revenues from convertible bond sales.
According to the company's analysis, Strategy's Bitcoin reserves rank ninth when compared to the cash assets of major companies in the S&P 500 index. The company's Bitcoin holdings are just behind General Motors' $89 billion cash reserves while surpassing ExxonMobil's $67 billion cash reserves.
The company's CEO, Michael Saylor, describes Bitcoin as a superior store of value compared to traditional cash and bonds, referring to it as a "digital property." This approach by Strategy has inspired other publicly traded companies to start holding Bitcoin on their balance sheets. According to current data, 141 companies have various amounts of BTC on their balance sheets. However, Strategy's total Bitcoin supply corresponds to approximately 3% of the massive