Strategy Stuns With New $51.4 Million Bitcoin Purchase, Now Owns 3% Of All BTC

Michael Saylor, an outspoken Bitcoin advocate and the executive chairman at Strategy, has just announced that his software firm turned Bitcoin treasury company, has added another Bitcoin lump to its massive $BTC stash.

Strategy Picks Up Additional 430 $BTC

According to Michael Saylor’s recent X post, another 430 $BTC was scooped up last week for roughly $51.4 million at roughly $119,666 per Bitcoin as part of its ongoing Bitcoin Treasury strategy.

As of August 18, the Tysons Corner, Virginia-based behemoth holds a total of 629,376 $BTC as it fast approaches the 630,000 milestone. The company now controls 3% of Bitcoin’s total supply.

However, the latest purchase followed another relatively small Bitcoin buy of just 155 $BTC announced last week. Strategy has previously spent over $2 billion on Bitcoin in some past buys, including its last purchase on July 29, when it bought 21,021 $BTC at a price of approximately $2.4 billion.

Saylor previously revealed the company’s plan to buy up to 7% of the world’s Bitcoin but dismissed concerns about market dominance, asserting that the company has no intention of owning the entire supply.

Bitcoin slumped overnight to sub-$115,000, making MSTR’s stack worth about $72.7 billion at current prices. The digital asset recently hit a new lifetime high above $124,000 before swiftly retracing. Strategy’s Saylor took to X to comment on the highly volatile prices.

“Volatility is a gift to the faithful,” he wrote at the time.

Corporate Bitcoin Accumulation Trend

Strategy (previously MicroStrategy) started acquiring Bitcoin in August 2020 as a way to rake in better returns for its shareholders as inflation rocked the U.S. and world economies during the COVID-19 pandemic.

It is now the world’s biggest corporate holder of the asset and primarily now works to securitize Bitcoin: Its business model allows investors to buy its shares to gain exposure to the apex crypto.

Meanwhile, a slew of other US publicly traded companies, including Trump Media, MARA Holdings, have also adopted Saylor’s Bitcoin treasury playbook.

Some Asian-based companies have also not been left behind. Japan’s Metaplanet, for instance, raised its total stash to 18,888 $BTC after a fresh 775 $BTC buy for $93 million. The Simon Gerovich-led company earlier laid out an ambitious plan to hold 100,000 Bitcoin by the end of 2026 and a staggering 210,000 $BTC by the end of 2027.