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Strategy Buys 7,633 BTC in Latest Purchase, Now Holds 478,740 BTC

This would be the company’s first Bitcoin acquisition since its rebranding from MicroStrategy to Strategy.

bitcoin in shelves

Publicly traded company Strategy has increased its Bitcoin holdings by purchasing 7,633 BTC. The firm spent approximately $742.4 million on the acquisition, and each bitcoin sold for an average of $97,255. Interestingly, this is the first time the firm has bought BTC since changing its name from MicroStrategy to Strategy.

Strategy Now Holds 478,740 BTC

Strategy’s latest acquisition brings its total Bitcoin holdings to 478,740 BTC, bought for about $31.1 billion. Based on BTC’s current price of $97,400, the company’s total Bitcoin stash is worth over $46.62 billion. This strengthens Strategy’s leading position among the publicly traded firms holding BTC. Other firms below Strategy include MARA Holdings, Riot Platforms, CleanSpark, and Hut 8.

The business intelligence company committed to a weekly BTC acquisition practice over the past three months, which was announced every Monday. However, Strategy’s co-founder, Michael Saylor, noted last week that the firm did not acquire any BTC. Notably, this coincided with a broader crypto market decline that took bitcoin’s price from around $98,000 to nearly $91,000 within a few hours. The decrease at the time was attributed heavily to Donald Trump’s executive order involving imported goods from Canada and Mexico.

Resuming its Bitcoin acquisition shows Strategy’s commitment to frequently acquiring the apex crypto asset. The business intelligence firm began accumulating BTC in August 2020.

MicroStrategy Rebrands to Strategy

One of the most talked-about headlines from last week was MicroStrategy’s rebranding to Strategy. The company’s new logo, featuring a bright orange background, reads “Strategy₿.” This move reinforces the company’s support for Bitcoin.

Alongside its ecosystem revamp, Strategy introduced the annual “BTC $ Gain,“ a metric indicating the firm’s total BTC holdings at the beginning of a specific period multiplied by the yield for that period.

Mishael Nwani

Mishael Nwani is an avid crypto enthusiast with nearly four years of experience in the industry. Since 2022, he has covered topics across cryptocurrencies, NFTs, artificial intelligence, and financial markets.