Strategy purchased an additional 3,081 BTC last week, according to an SEC filing. The acquisition, funded via proceeds from equity sales, brings its total holdings to 632,457 Bitcoin, worth over $70 billion at the current market price.
Summary
- Strategy adds 3,081 BTC for $357 million, lifting total holdings to 632,457 BTC worth $70 billion.
- The purchase, funded via equity sales, was disclosed in an SEC filing.
- Slower August buying pace contrasts with July’s aggressive $3.6 billion allocation.
The Tysons Corner, Virginia-based business intelligence firm said it bought the additional Bitcoin (BTC) between August 18 and August 24, using net proceeds of approximately $357 million generated from its at-the-market equity offering programs.
According to the Form 8-K filed with the Securities and Exchange Commission on August 25, the purchase was executed at an average price of $115,829 per Bitcoin, bringing the company’s total holdings to a staggering 632,457 BTC, worth over $70 billion at last check.
Slower buying pace, higher yield
The latest $357 million allocation marks Strategy’s third Bitcoin purchase this month. It follows two smaller buys earlier in August, one of 430 BTC and another of 155 BTC. This brings the company’s total acquisitions for the month to 3,666 BTC, a notable deceleration from the aggressive 31,466 BTC purchased in July.
This pacing suggests a more tactical, perhaps price-sensitive, approach in the current market cycle compared to previous months of relentless buying. But even at a slower cadence, Strategy’s internal performance metrics continue to move higher.
According to Strategy Executive Chairman and former CEO Michael Saylor, the company’s proprietary Bitcoin Yield metric, a key performance indicator tracking the percentage change in the ratio of its total Bitcoin holdings to its assumed diluted shares outstanding, has climbed to 25.4% year-to-date.
Notably, Strategy recently revised its full-year target for this metric upward, from 25% to 30%, and increased its annual Bitcoin gain target from $15 billion to $20 billion, signaling confidence in its ongoing ability to execute its model.
Meanwhile, with a market capitalization of approximately $112 billion against bitcoin holdings valued around $70 billion, the company’s stock trades at a nearly 60% premium to its net asset value.
This allows the company to issue new shares at prices that are at a premium to the Bitcoin they will acquire, creating a virtuous cycle: the proceeds from these equity sales are used to buy more BTC, which in turn supports the company’s valuation and its ability to raise more capital.
