Michael Saylor’s Strategy, the world’s largest public holder of Bitcoin, continued beefing up its BTC holdings last week amid rebounding investor sentiment and rising prices.
Strategy acquired 4,980 Bitcoin (BTC) for $531.1 million during the week ending Sunday, the company announced in a US Securities and Exchange Commission filing on Monday.
Strategy’s latest Bitcoin purchases averaged $106,801 per coin, with Bitcoin surging from around $101,000 on June 23 to above $108,000 by the end of the week, according to CoinGecko data.
The new acquisition has increased Strategy’s Bitcoin holdings to 597,325 BTC, purchased for about $42.4 billion at an average price of $70,982 per coin.
Strategy’s gain YTD is now 85,871 BTC
With the latest purchases, Strategy’s Bitcoin year-to-date (YTD) gain amounted to 85,871 BTC, or $9.5 billion, compared to a 140,538 BTC gain for the entire 2024, or $13 billion, according to Strategy’s data.
Strategy’s Bitcoin yield was up 0.5% at 19.7%, inching closer to the company’s targeted YTD yield goal of 25% by the end of 2025.
Strategy’s quarter-to-date BTC yield also edged up about 0.4% to 7.8%.
Did Strategy transfer $796 million in BTC?
The latest Strategy purchases were expected by many, as Saylor has consistently been hinting about impending purchases each Sunday.
Multiple blockchain analysts spotted Strategy also transferring 7,383 BTC worth around $796 million to three new wallets on Sunday. According to the blockchain analytics platform Lookonchain, the transaction was “likely for improved custody.”
“Historically, Strategy only sold 704 BTC ($11.81M) at $16,776 on Dec. 22, 2022, and soon bought back 810 $BTC ($13.64M) at $16,845 on Dec. 24, 2022,” Lookonchain wrote.
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“Aside from that, they’ve been strictly buy-and-hold,” the post added.
Saylor shares how Strategy bet everything on Bitcoin
Prior to posting Strategy’s latest purchases on X, Saylor recalled the company’s early days with Bitcoin, reposting his 2020 interview with RealVision founder Raoul Pal.
In the interview, Saylor shared a story on how he “first decided to get irresponsibly long with Bitcoin,” with Strategy making its first BTC investment in August 2020.
“There’s a lot of traders in the market. They don’t understand the mindset of long,” Saylor said in the historic interview, adding:
“I’m buying it for the dude that’s going to work for the dude that’s going to get hired by the guy who takes over my job in 100 years. I’m not selling it. When it goes up by a factor of 100, I might be borrowing a little to go buy something that I want, but what am I going to buy with it that’s better than what I’m buying?”
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