7,714 BTC Acquired in August as Prices Dip Below $108,000
Michael Saylor’s Bitcoin-focused company, Strategy, has expanded its holdings with a major acquisition, adding $449.3 million worth of Bitcoin last week. The latest purchase comes as the cryptocurrency market experiences volatility, with Bitcoin briefly dipping under the $108,000 mark.
According to a recent filing with the U.S. Securities and Exchange Commission, Strategy purchased 4,048 BTC between August 25 and September 1 at an average price of $110,981 per coin. This move brought the company’s total Bitcoin reserves to 636,505 BTC, accumulated at an average cost of $73,765 per BTC, amounting to an investment of $46.95 billion.
August Buys Reflect Steady Accumulation Strategy
The company’s recent acquisition is part of its ongoing commitment to Bitcoin accumulation. “We continue to see Bitcoin as the world’s most dependable store of value,” a company representative said.
In August alone, Strategy secured 7,714 BTC through multiple purchases. Earlier in the month, the firm added 3,081 BTC, followed by smaller acquisitions of 430 BTC and 155 BTC. While the August total is lower compared to July’s 31,466 BTC, it signals consistent interest despite market fluctuations.
Bitcoin’s price movement played a crucial role in the timing of the purchases. The cryptocurrency briefly surged above $113,000 before dropping below $108,000, providing what the company viewed as an attractive entry point. Analysts note that institutional confidence in Bitcoin remains strong, even as short-term volatility persists.
Strategy financed the acquisition using proceeds from multiple stock issuance programs, including STRF ATM, STRK ATM, STRD ATM, and MSTR ATM, as per the SEC filing.
With its latest buy, Strategy reinforces its position as the largest publicly traded company holding Bitcoin, highlighting the growing institutional trend of integrating crypto assets into corporate treasuries.
Disclaimer
This content is for informational purposes only and does not constitute financial, investment, or legal advice. Cryptocurrency trading involves risk and may result in financial loss.