Michael Saylor’s Strategy, the world’s largest holder of Bitcoin, continued stacking the cryptocurrency as the BTC price edged up slightly last week.
Strategy acquired 1,955 Bitcoin (BTC) for $217.4 million between Sept. 2 and 7, according to a Tuesday US Securities and Exchange Commission filing.
The purchase was made at an average price of $111,196 per coin as the cryptocurrency briefly surged above $113,000 last Friday before slipping to around $110,000, according to CoinGecko.
With the new acquisition, Strategy’s total Bitcoin holdings totaled 638,460 BTC as of Sunday, purchased for approximately $47.2 billion and at an average price of $73,880 per BTC.
Strategy’s latest Bitcoin purchase follows a series of buys in August, totaling approximately 7,714 BTC for the month.
The company’s BTC buying last month was significantly smaller than previous purchases, including a massive 31,466 BTC acquisition in July and a 17,075 BTC acquisition in June.
The latest purchase was made using proceeds from three of Strategy’s at-the-market (ATM) equity offerings, including the Series A Perpetual Strife Preferred Stock (STRF), the Series A Perpetual Strike Preferred Stock (STRK) and its own Common A stock MSTR.
Magazine: Bitcoin may sink ‘below $50K’ in bear, Justin Sun’s WLFI saga: Hodler’s Digest, Aug. 31 – Sept. 6
