Strategy Inc. Marks Five Years of Bitcoin Investment
Strategy Inc. has marked five years of investing in Bitcoin (BTC) by buying 155 more coins. The company announced in a regulatory filing on Aug. 11 that it purchased these Bitcoin between Aug. 4 and 10. In total, it spent about $18 million, paying an average price of $116,401 per coin.
This latest purchase raises Strategy’s total Bitcoin holdings to 628,946 coins. So far, the company has spent roughly $46.09 billion acquiring them. Consequently, the average price per Bitcoin stands at around $73,288.
At today’s market prices, the Bitcoin holdings are worth about $73 billion. Therefore, Strategy has an unrealized gain exceeding $27 billion.
The timing of this purchase is significant because it coincides with the fifth anniversary of Strategy’s decision to adopt Bitcoin as its primary treasury reserve asset. On Aug. 11, 2020, the company spent $250 million to acquire 21,454 BTC. Back then, the average price was about $11,500 per coin.
Since that milestone, Strategy has steadily added to its Bitcoin stash. Moreover, under the leadership of Executive Chairman Michael Saylor, the company has become the largest corporate holder of Bitcoin. This steady accumulation highlights the firm’s strong belief in Bitcoin’s long-term potential as a store of value.
Despite the volatile nature of the cryptocurrency market, Strategy continues to buy. In fact, this latest purchase underscores the company’s confidence in Bitcoin’s future. Overall, it reaffirms their commitment to the digital asset as a key part of their treasury strategy.