Michael Saylor's company buys Bitcoin worth $2.46 billion, bringing its total holdings to over $71 billion.

"Strategy" now owns 628,791 Bitcoins.

Saylor relied on selling common and preferred stock and borrowing to finance the purchase of Bitcoin.

Michael Saylor continues to bolster his company's Bitcoin holdings by executing purchase deals near the highest price levels, supported by a financial strength in the capital markets that no other cryptocurrency company can match.

On Monday, "Strategy" (formerly known as MicroStrategy Inc) revealed that it bought Bitcoins worth $2.46 billion over the past week, in its third-largest purchase by dollar value since it began accumulating cryptocurrency five years ago.

The company purchased 21,021 coins between July 28 and August 3, bringing its total holdings to 628,791 Bitcoins, according to a disclosure filed with the U.S. Securities and Exchange Commission. At current prices, these holdings exceed $71 billion.

The largest buyer of cryptocurrency.

Thanks to a regular influx of liquidity from selling stock in the company and borrowing, Saylor has succeeded in transforming his company from an enterprise software firm into the largest institutional buyer of "$BTC ". The latest purchase was made at an average price of $117,526 per coin, the second-highest price "Strategy" has ever paid, following the record price of $118,940 it paid last month, according to company data.

This move reflects how Saylor has transformed the financing tools of publicly traded companies into a specialized means of accumulating Bitcoin, while "Strategy" continues its purchases despite prices trading near their record levels.

The company is by far the largest institutional owner of Bitcoin, according to statistics from "BitcoinTreasuries.net", and it has contributed to the emergence of a new sector of publicly traded companies adopting what is known as a "treasury strategy", i.e., buying cryptocurrencies and holding them.

To finance these purchases, Saylor relied on a mix of sales of common and preferred stock, as well as borrowing. The company currently offers investors four different types of securities, the latest of which is a preferred stock issue under the name "Stretch" launched in late July. "Strategy" recorded paper gains of $14 billion in the second quarter, driven by a recovery in the price of "$BTC ", and a recent change in accounting standards that forced the company to reassess its cryptocurrency holdings.

Criticism from investors.

Recently, Saylor pledged not to issue new common stock at less than 2.5 times the company's net asset value, except to cover debt interest or preferred stock dividends.

This pledge comes after criticism from investors such as Jim Chanos, who raised questions about the significant discrepancy between the stock price of "Strategy" and the value of its Bitcoin holdings, along with the number of financial issues the company offers.

Since the first cryptocurrency purchase, "Strategy" stock has risen over 3000%, surpassing the performance of the currency "$BTC " itself and major stock market indices like the S&P 500 and the Nasdaq 100. The company's two largest purchases were made in November of last year, totaling $5.4 billion and $4.6 billion, respectively, according to company data.

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