Michael Saylor's Strategy, as the world's largest publicly held Bitcoin company, purchased 155 Bitcoins worth $18 million last week to celebrate the fifth anniversary of its Bitcoin purchasing strategy. According to documents from the U.S. Securities and Exchange Commission, the transaction was completed over the weekend.
The average purchase price for this batch of Bitcoins by Strategy was $116,401 each. At the beginning of that week, the Bitcoin price was about $114,000 and approached its historical high of $122,000 over the weekend.
This purchase increased Strategy's Bitcoin holdings to 628,946 BTC, with a total investment of approximately $46.1 billion and an average cost per coin of $73,288.
Strategy's first purchase of Bitcoin was on August 11, 2020.
This increase in Bitcoin holdings coincides with the fifth anniversary of its BTC strategy, which initially began on August 11, 2020, when $250 million was used to purchase 21,454 BTC.
Since Strategy's first purchase of Bitcoin, the Bitcoin price has increased by 960%, soaring from about $11,400 to the current $120,000, resulting in substantial investment returns.
Despite the continuous price rise, Strategy continues to increase its Bitcoin holdings, currently holding over 600,000 BTC through 74 transactions.
Strategy co-founder Saylor stated in a post on Sunday: 'As long as we keep buying Bitcoin, we won't stop making money.'
By the end of 2024, Saylor has committed to continuing to buy Bitcoin regardless of the price. In June, he emphasized that Bitcoin would reach a forecast target of $21 million within the next 21 years.
This is a developing story, and the latest information will be updated at any time.
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