Bitcoin treasury titan Strategy has once again expanded its substantial digital asset holdings, announcing the purchase of 6,220 Bitcoin for approximately $739.8 million in cash. This latest acquisition, made between July 14 and July 20 at an average price of $118,940 per coin, solidifies Strategy’s position as the largest publicly listed buyer of Bitcoin by market capitalization.
Disclosed in a Form 8-K filing with the U.S. Securities and Exchange Commission, this purchase pushes Strategy’s total Bitcoin treasury to an astounding 607,770 BTC. The company has now invested approximately $43.61 billion in Bitcoin, with an average acquisition price of $71,756. As of July 21, these holdings imply paper gains of around $28.1 billion.
The company’s aggressive accumulation strategy is being funded through diverse avenues. The latest acquisition was partly financed by “at-the-market” (ATM) sales of Strategy’s Class A common stock (MSTR) and three series of perpetual preferred shares.
Strategy sold 1,636,373 MSTR shares, generating approximately $736.4 million. The company still retains a significant $17.04 billion in outstanding capacity under its $21 billion common-stock ATM program. Additionally, it offloaded 5,441 STRK shares for roughly $0.7 million, 2,000 STRF shares for $0.2 million, and 31,282 STRD shares for $3.0 million. About $4.18 billion remains available under a $4.2 billion shelf filed earlier this month for these preferred shares.
These ATM programs complement Strategy’s existing supersized preferred-stock programs ($21 billion for STRK and $2.1 billion for STRF) and its ambitious “42/42” capital plan, which targets $84 billion in combined equity offerings and convertible notes for Bitcoin purchases through 2027.
Strategy’s growing Bitcoin trove is now so substantial it’s competing with the cash and cash-equivalent reserves of traditional finance blue-chips. According to internal analysis shared by Executive Chairman Michael Saylor last week, Strategy’s Bitcoin holdings, valued at approximately $71 billion, would rank among the top 10 largest cash piles held by S&P 500 companies.
