Strategy The company has purchased an additional 4,225 Bitcoins for $472,5 million. This brings its total Bitcoin holdings up to 601,550 BTC.
A company’s perspective filing on July 14Strategy acquired Bitcoins for an average price per coin of $111-827 between the 7th and 13th July. The purchase was funded by multiple capital raisings. This included $330.9 millions from the sale of common shares and $141.4 from preferred stocks.
The institutional landscape is fundamentally changing. “We’re experiencing unprecedented corporate accumulation. From Strategy’s 601,550 BTC up to Metaplanet 16352 BTC or K33 surpassing 100 BTC.
Strategy’s Bitcoin holdings have now been valued at around $73 billion based on current prices of about $121,500. That represents an unrealized gain over its total investment of $29.27 billion at a cost basis averaged at $71,268.
Strategy’s Continued accumulation indicates growing confidence among institutions. They have created a model for adopting Bitcoin by corporations while retaining strong shareholder values.
Bitcoin was trading near $120 744 at the time of publication, which reflects a positive reaction to institutional investment. Strategy shares were up 2.99% on $447.
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Source: bitcoinmagazine.com
