Michael Saylor's Strategy Purchases 430 Bitcoin, Now Owns 3% of World's BTC Supply

Strategy, the largest Bitcoin treasury firm in the world under Michael Saylor, has increased its holdings with the addition of 430 BTC worth $51 million between August 11 and 17. The purchase brings the firm's overall Bitcoin hoard to 629,376 BTC, which is worth over $72 billion, based on its Monday release.

The recent acquisitions were purchased at a mean price of $119,666 per Bitcoin, at a time when BTC reached a new record high at $124,279 before retreating to $117,000 after better-than-expected U.S. PPI news.

Stock Sales Finance Recent Bitcoin Acquisitions

Strategy paid for the acquisitions from the proceeds of its preferred stock offerings. From an SEC filing, the company sold 179,687 STRK shares, 162,670 STRF shares, and 140,789 STRD shares last week.

In addition, the firm revised guidance regarding proceeds from its ATM common stock program, stating that it will issue MSTR shares opportunistically whenever the mNAV ratio falls below 2.5x. Proceeds can be utilized to service debt, pay preferred dividends, or for general corporate purposes.

Owning Over 3% of Bitcoin Supply

With its most recent acquisition, Strategy now owns over 3% of Bitcoin's circulating supply. Although there have been some critics expressing concerns regarding market dominance, Saylor has made it clear that the company has no plans to monopolize Bitcoin, stating its long-term aspiration could be up to 7% of the world's supply.

As per BitcoinTreasuries.net, MARA Holdings is the second-largest corporate BTC holder, followed by Twenty One (XXI), Bitcoin Standard Treasury Company, and Bullish.

Public companies own a total of approximately 977,000 BTC at present, and spot Bitcoin ETFs hold more than 1 million BTC.

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