Strategy, the company formerly known as MicroStrategy, bought 520 Bitcoin for approximately $35 million last week. That brings the firm’s total holdings to 847,363 BTC, a number so large it represents roughly 4% of all Bitcoin that will ever exist.
The numbers behind the buy
According to Strategy’s June 22 Form 8-K filing, the 520 BTC were acquired at an average price of roughly $67,068 per coin. That’s a notable discount compared to the company’s all-in average acquisition cost of approximately $75,651 per BTC across its entire portfolio.
The purchase follows a larger acquisition just one week earlier, when the company scooped up 1,587 BTC for around $100 million in the filing dated June 15. The back-to-back buys are par for the course. Strategy has turned weekly Bitcoin purchases into something resembling a subscription service, filing 8-K disclosures with the regularity of a metronome.
How Strategy funds its Bitcoin habit
