Michael Saylor’s firm, branded as Strategy (previously MicroStrategy), revealed it added more Bitcoin last week, furthering its capital-growth blueprint. The new tranche comes right after the headline grab two weeks earlier, which catapulted its cumulative haul past 600,000 coins.
The update underlines Saylor’s unwavering view of Bitcoin as the optimum treasury reserve. At the same time, MSTR shares rose 2 percent today, recovering some ground after last week’s pullback.
Traders seem encouraged by the firm’s steadfast crypto resolve, which has become inseparable from its brand and stock trajectory, especially as institutional appetite for Bitcoin continues to build.
Strategy Acquires 6,220 BTC For $739.80 Million
In a press release, the company revealed it bought an additional 6,220 BTC for $739.80 million, working out to an average of $118,940 per coin, and pushing the year-to-date BTC yield to 20.8%. The firm’s total now stands at 607,770 BTC, acquired for an aggregate $43.61 billion at a blended price of $71,756 each.
The latest haul was funded chiefly through proceeds from its common equity and STRK stock. The announcement arrived just 24 hours after Saylor teased another transaction by posting the company’s live Bitcoin portfolio tracker and the words, “Stay Humble. Stack Sats.,” a clear signal that the buying spree was still underway.
This marks the second straight week of purchases, following a brief pause during the first week of July. As CoinGape documented, the firm picked up 4,225 BTC for $472.5 million in the week ending July 13, pushing its total past 600,000 and making it the first corporate entity to cross that threshold. The recent tranche reaffirms Strategy’s commanding lead over rivals, with second-placed MARA Holdings holding a comparatively modest 50,000 BTC.
MicroStrategy has vaulted into the top ten largest U.S. corporate treasuries after its most recent acquisitions and the ongoing Bitcoin bull market that has pushed the digital asset to fresh all-time highs. The firm now sits in the number nine spot, having overtaken Baylor’s reserve and surpassing the market’s grand-daddy, NVIDIA, in this respect.
The firm’s latest Bitcoin buy has also buoyed the MSTR share price. According to TradingView, the stock changed hands for roughly $430 in Friday’s premarket, up nearly 2% after announcing the fresh haul. Even so, the stock remains 5% lower over the past week, shadowing Bitcoin’s own pullback from its $130,000 all-time high.
MicroStrategy’s latest stash, its 16th consecutive quarter of cryptocurrency accumulation, totals 162,799 coins. The firm reports it now holds more Bitcoin than the entire country of El Salvador, the most vocal evangelist of digital currency.
Michael Saylor, the executive chairman, continues to buy the macro case for Bitcoin, citing macroeconomic stresses, currency debasement, and the ongoing search for a durable reserve asset. Saylor’s firm now buys Bitcoin for four different corporate subsidiaries, not just its flagship identity, and has begun loaning coins to Coinbase for yield.
The momentum around the latest purchase has transcended MSTR’s own equity vehicle. The market now assigns the stock a 60% correlation to Bitcoin’s price, a relationship that has become tighter after the firm’s treasury crossed the 150,000 limit.
Analysts point to the stock’s potential to re-establish itself as a quasi-ETF for Bitcoin, a proxy that pays a modest yield via the convertible bonds the firm has now sold more than $3 billion of since 2020.
Wall Street reactions to the purchase were mixed, however. Evercore’s Mark Mahaney upgraded the stock to Outperform, citing its now-dominant treasury and its practical shield against inflation. Jefferies, on the other hand, reiterated its Hold rating, cautioning that MSTR remains too sensitive to Bitcoin price swings, calling it a “levered long position in a long position.”
Saylor’s ongoing accumulation and the firm’s push to buy Bitcoin on corporate balance sheets continues to draw the eyes of treasurers elsewhere. Last week, the U.S. Treasury clarified that digital assets held on corporate ledgers will not trigger bank capital charges, a regulatory tailwind that Saylor quickly filed into the MSTR playbook.
The Bitcoin community now watches to see how soon MicroStrategy’s next move lands. Saylor has told investors on multiple occasions that the firm remains in the market every day. The 16th purchase, for 1,115 coins, arrived within hours of Bitcoin’s latest breakout.
The firm still carries its cost base of $29,888 per Bitcoin, a point it never hedged. Its debt structure remains comprised of convertible bonds and a single Bitcoin-collateralized loan, keeping interest costs below $40 million in a rising rates environment.
Saylor, never shy on Twitter, recently tweeted that Bitcoin is “the most secure digital property.” Even on a day when the currency swings in the red, Saylor and MicroStrategy appear more committed than ever to the Bitcoin playbook. The market, however, will no doubt keep the stock’s price anchored to the next move of the coin it has made its corporate identity.
