 
 
Michael Saylor’s Bitcoin treasury trend-setter, Strategy, has resumed its relentless quest for accumulating Bitcoin (BTC) after a brief pause during the first week of this month.
The company added another 4,225 Bitcoins to its treasury in the last week as the price of Bitcoin soared to new all-time highs. Strategy now holds over 600,000 BTC, further solidifying its position as the world’s largest Bitcoin corporate holder.
Strategy Stacks More Bitcoin
Strategy, the world’s largest public holder of Bitcoin (BTC), disclosed in a Monday 8-K filing with the Securities and Exchange Commission that it had snagged an additional 4,225 BTC for approximately $472.5 million at an average price of $111,827 per coin between July 7 and July 14.
Strategy now holds 601,550 BTC acquired for $42.87 billion at an average price of $71,268 per Bitcoin. At the alpha crypto’s current market price of around $121,795, the company’s BTC stack is valued at over $73 billion. That’s equivalent to nearly 3% of Bitcoin’s 21 million supply.
The latest acquisition was made using $331 million of net proceeds from sales of its Class A common stock, MSTR, under its at-the-market (ATM) program, $71.1 million from STRK preferred shares, $55.3 million from STRF preferred shares, and $15.0 million from STRD preferred shares. These sales collectively yielded $472 million in net proceeds to fund Strategy’s BTC purchase.
 
BTC is ‘Going Up Forever’
Strategy’s recent Bitcoin buy comes amid Bitcoin setting a record high above $112,000 last Wednesday. After beginning the week hovering around $108K, the BTC price rocketed to $118,000 highs by July 13. The world’s oldest and largest crypto has continued its parabolic surge today, setting a new all-time high of $122,838, according to crypto data provider CoinGecko.
As Bitcoin registered its strong upsurge, Saylor has continued voicing his uber-bullish sentiment on the X platform.
“It’s going up forever, Laura,” the Strategy co-founder asserted while responding to Unchained’s founder, Laura Shin, who had commented about BTC smashing the $119K mark on Sunday.
Public Companies Continue Bitcoin Acquisition
Strategy’s Bitcoin investment comes as a growing number of public companies and other entities have disclosed new Bitcoin acquisitions.
According to data from Bitcoin Treasuries, there are now 141 publicly traded firms that have added Bitcoin to their balance sheets in a bid to emulate Strategy, which started snapping up the asset under the leadership of Michael Saylor back in 2020.
Metaplanet, which touts itself as the “Strategy of Japan”, recently raised its Bitcoin stash to 15,555 BTC, worth over $1.7 billion. Semler Scientific, Trump Media, and GameStop are among other companies that have recently announced Bitcoin acquisition plans.
Source: https://zycrypto.com/michael-saylors-strategy-tops-600000-btc-milestone-after-resuming-bitcoin-shopping-spree/