Strategy Acquires 6,556 Bitcoin for $555.8 Million

Strategy has increased its Bitcoin holdings with a purchase of 6,556 Bitcoin for $555.8 million. This acquisition is part of its strategy to maintain a substantial corporate portfolio in Bitcoin.

Key Details

Transaction announced via regulatory Form 8-K filing.
Average price per Bitcoin was $84,785.
Total Bitcoin held by Strategy now stands at 538,200 BTC.
Strategy's total Bitcoin investment amounts to approximately $36.47 billion.
Average cost basis per Bitcoin for the company is around $67,766.
Current Bitcoin price is $87,319.30, reflecting a 3.47% increase in the last 24 hours.

Strategy has consistently acquired Bitcoin, including a prior purchase of 6,911 BTC for $584.1 million earlier this year. The firm's approach focuses on using its treasury for Bitcoin rather than traditional cash or gold.

Michael Saylor's Perspective

Michael Saylor, Chairman of Strategy, advocates that Bitcoin is a superior store of value due to its lack of counterparty risk, differentiating it from traditional assets.

Additionally, Strategy's stock Strife (STRF) has launched on Nasdaq, aimed at funding further Bitcoin acquisitions. Another entity, Metaplanet, has also increased its Bitcoin holdings by 319 BTC, becoming the ninth-largest public holder globally.