Strategy, the company that really loves Bitcoin, just bought a bunch more. They picked up 4,020 bitcoins last week. That cost them about $427.1 million. Each coin went for around $106,237. This news came out Monday in their press release. It’s like they just can’t get enough, can they?
- Strategy recently acquired an additional 4,020 bitcoins, spending over $427 million. This purchase further solidifies their position in the Bitcoin market.
- The company holds a substantial amount of Bitcoin, controlling nearly 3% of all existing Bitcoin. They’ve invested billions to accumulate their holdings.
- Strategy is not alone; other companies are following suit, adding to the growing trend of corporate Bitcoin adoption.
Now, Strategy holds a massive 580,250 BTC. Think about that number for a second. They spent roughly $40.61 billion to get all that, averaging about $69,979 per bitcoin. This includes all the fees and extra costs. It’s quite a collection, isn’t it?
The company is sitting on a hefty $22.7 billion in paper gains right now. That’s money they’ve made, at least on paper, from their Bitcoin buys. And get this: they control nearly 3% of all the Bitcoin that will ever exist. There are only 21 million bitcoins total, you see. That’s a big chunk of the pie.
So, where did Strategy get the cash for this latest spree? They sold off some of their own company shares. They sold 847,000 MSTR shares, bringing in $348.7 million. Then, they moved 678,970 STRK shares for $67.9 million. And finally, 104,423 STRF shares added another $10.4 million. It’s a bit like selling off old furniture to buy a new, shinier car, isn’t it?
Just last week, Strategy announced a huge plan to raise even more money. They’re looking to get $2.1 billion from selling more of their STRF stock. This is part of their bigger “42/42” plan. The goal? To raise a whopping $84 billion through various stocks and notes to buy Bitcoin all the way through 2027. Michael Saylor, the co-founder, even hinted at the new buy over the weekend. He posted, “I only buy bitcoin with money I can’t afford to lose.” A classic Saylor line, if you ask me.
Before this latest purchase, Strategy had already bought 7,390 bitcoins between May 12 and May 16. That cost them about $765 million, at an average of $103,498 per coin. This brought their total then to 576,230 BTC. It seems their buying habits often line up with Bitcoin’s price going up. But, a BRN analyst named Valentin Fournier did mention something interesting. He told The Block that as Bitcoin keeps hitting new highs, other folks might start taking profits. This could, in turn, slow down Strategy’s aggressive buying. It’s always a balancing act, isn’t it?
Right now, Bitcoin is trading for around $109,884. It’s been up over 6.5% just in the past week. You can check out The Block’s price page for the latest numbers. It’s certainly been an exciting time for the leading cryptocurrency.
Now, Strategy isn’t just buying Bitcoin; they’re setting a trend. More and more companies are starting to follow their lead. It’s like a corporate game of “follow the leader,” but with Bitcoin. Over 70 different companies have now put Bitcoin on their balance sheets.
Some of these new players include Tether-backed Twenty One, KURL, Metaplanet, and Semler Scientific. They’re all jumping into the Bitcoin accumulation race. Then you have companies like Nakamoto, started by Bitcoin Magazine CEO David Bailey, and publicly traded groups like Nasdaq-listed GD Culture Group and Basel Medical Group. Even a Brazilian fintech startup, Méliuz, has announced plans to create Bitcoin treasuries. It seems everyone wants a piece of the Bitcoin pie these days.
Analysts at Bernstein have been watching this trend closely. They predict that these so-called “Strategy copycats” could add a staggering $330 billion to Bitcoin’s total market value over the next five years. That’s a lot of money flowing into the crypto space, isn’t it? It just goes to show how much influence one company can have.