- Strategy bought 6,220 BTC for $739.8M at $118,940 per coin.
- Total holdings now stand at 607,770 BTC, worth $72B.
Michael Saylor’s Bitcoin treasury company, Strategy, has acquired 6,220 BTC for $739.8 million, according to a U.S. SEC Form 8-K filing. The firm made the purchase between July 14 and 20 at an average price of $118,940 per coin. This brings Strategy’s total Bitcoin holdings to 607,770 BTC, worth approximately $72 billion at current prices.
Notably, the firm has spent a cumulative $43.61 billion on Bitcoin at an average cost of $71,756 per coin. Consequently, Strategy now holds an unrealized profit of around $28.1 billion. The purchase follows last week’s $472.5 million investment in 4,225 BTC. Strategy has now acquired 10,455 BTC so far in July, continuing a consistent monthly buying pattern.
To finance the latest acquisition, Strategy sold 1,636,373 shares of its Class A common stock (MSTR), raising $736.4 million. Additionally, it raised $3.9 million by selling preferred shares 5,441 STRK, 2,000 STRF, and 31,282 STRD. These sales are part of the firm’s broader “42/42” capital plan, aiming to raise $84 billion for Bitcoin purchases through 2027.
Rising BTC Reserves and Mounting Risks
STRK balances yield with equity upside, STRF provides cumulative dividends, while STRD offers the highest coupon without conversion options. Furthermore, $17.04 billion remains available under Strategy’s $21 billion ATM stock program. About $4.18 billion is still unutilized from its shelf registration for preferred shares.
Last week, Bitcoin briefly surged above $122,000 before consolidating near $118,980. Strategy’s purchase represents nearly 14 days’ worth of new BTC supply, nearly double the total mined during the purchase period. Meanwhile, the company’s Bitcoin yield rose to 20.8% YTD, moving closer to its 25% target.
Despite the warnings, Strategy’s Bitcoin position now ranks ninth among S&P 500 companies’ cash reserves. It surpasses ExxonMobil and trails just behind General Motors. What began as a niche strategy has evolved into a leading institutional Bitcoin reserve model.
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