Breaking: Michael Saylor’s Strategy Announces $739M Bitcoin Purchase, MSTR Stock Up

Michael Saylor’s Strategy, previously known as Strategy, has announced another weekly purchase, which it made last week. This comes just as the company surpassed the 600k BTC milestone with its purchase two weeks ago. Meanwhile, the MSTR stock is up over 2% today, recovering from last week’s dip.

Strategy Acquires 6,220 BTC For $739.80 Million

In a press release, the company announced that it acquired 6,220 BTC for $739.80 million at an average price of $118,940 per bitcoin, achieving a BTC yield of 20.8% year-to-date (YTD).

The company now holds 607,770 BTC, which it acquired for $43.61 billion at an average price of $71,756 per bitcoin. Strategy made this latest purchase mainly using the proceeds from its common shares sale, raising $736.4 million from the sale of 1.6 million MSTR shares.

This comes just a day after Saylor had hinted at another purchase by posting Strategy’s Bitcoin portfolio tracker with the caption, “Stay Humble. Stack Sats.,” indicating that they had again acquired BTC.

This marks the company’s second consecutive weekly purchase in as many weeks, following a brief hiatus in the first week of July. As CoinGape reported, the firm acquired 4,225 BTC for $472.5 million in the week that ended July 13, surpassing the 600,000 BTC milestone in the process and becoming the first company to reach this milestone.

This latest purchase again increases Strategy’s dominance above the other Bitcoin treasury companies, with second-placed MARA Holdings boasting a relatively smaller stash of 50,000 BTC.

Saylor’s company has also broken into the top 10 largest U.S. corporate treasuries thanks to its recent purchases and the Bitcoin rally to new highs. The company is now ranked ninth, ahead of the world’s most valuable company, NVIDIA.

Meanwhile, the MSTR stock is up amid the announcement of this latest Bitcoin purchase. TradingView data shows that the Strategy stock is trading at around $432, up over 2%. However, the stock is still down over the last five days, correcting alongside BTC, which is down from its all-time high (ATH) of $130,000.