Strategy, the company owned by Michael Saylor and the world’s largest public Bitcoin holder, continues to strengthen its position in the crypto market.
At the time of writing, the price of Bitcoin is currently at $70,458, up 0.04% since it opened early Tuesday in Asian trading.
Last week, Strategy bought 1,031 Bitcoin worth about $76.6 million, bringing the company’s total holdings to 762,099 BTC.
This purchase was smaller than the previous two weekly purchases, but still shows Strategy’s commitment to Bitcoin.
The latest purchases were made at an average price of $74,326 per Bitcoin, slightly lower than the company’s average total cost of $75,694.
That week, the average daily price of Bitcoin was around $70,871, indicating Strategy was buying slightly above the current market price.
With the latest holdings, the total cost of the 762,099 BTC is around $57.69 billion.
However, with Bitcoin currently priced at around $70,430, their holdings are now valued at around $54 billion, a slight 7% loss.
Interestingly, this purchase of 1,031 BTC was financed through the sale of Class A common stock, unlike previous large purchases using STRC preferred stock.
For example, the recent purchase of 22,337 BTC was worth $1.6 billion, largely financed through preferred stock.
While Strategy is the largest public holder, their holdings are still slightly below BlackRock’s iShares Bitcoin Trust ETF (IBIT) which holds around 785,300 BTC.
In total, the US spot Bitcoin ETF now holds almost 1.3 million BTC, or about 6.1% of Bitcoin’s maximum supply of 21 million BTC.
