Strategy Resumes Bitcoin Buys, Boosting Holdings to Over $72 Billion in BTC

Bitcoin treasury Strategy now holds 601,550 $BTC  worth nearly $73 billion after announcing its latest buy on Monday. 

Strategy—formerly MicroStrategy—said it bought 4,225 $BTC for $472 million between July 7 to 13 at an average of $111,827 per coin, according to an SEC filing. The company had paused its Bitcoin buying last week after weekly purchases the previous two months. 

The $BTC purchases occurred during a week when Bitcoin hit multiple new highs. Other treasuries also added to their holdings during the week. Japanese real estate company Metaplanet said Monday that it had bought more $BTC last week, and now holds 16,352 $BTC—or $1.9 billion in crypto. 

And public company KULR, which provides energy storage solutions for aerospace and defense companies, said last week that it bought an additional 90 $BTC for $10 million. The firm now holds 1,021 $BTC  worth $123 million in the asset.

Bitcoin was trading at about $119,850 on Monday after retreating from its latest record high near $123,000, according to crypto data provider CoinGecko. The asset over the past week has surged by 12%.

Tysons, Virginia-based Strategy's stock (MSTR) was trading 1.9% higher Monday morning Eastern time at a price of $442.50 per share, according to Yahoo Finance.

Company founder and chairman Michael Saylor kicked off Strategy's Bitcoin buying masterplan on August 11, 2020, with a $250 million investment in the cryptocurrency.

Saylor has called it "digital gold" and a better alternative to holding cash.

Strategy has the largest corporate holdings in the world. The company's stock is up 2,960% since its first $BTC buy five years ago. 

Other publicly traded companies that have built Bitcoin treasuries also include Semler Scientific GameStop, and Tesla. 

Edited by James Rubin