Strategy, an enterprise software firm, led by Micheal Salyor, a visionary and Bitcoin (BTC) advocate has once again bought more Bitcoin, but this time, in a smaller amount than usual. The firm shared today that it purchased 525 BTC between September 8 and 14, spending a little over $60 million at an average price of $114,562 per coin.
This brings its total Bitcoin holdings to about 638,985 BTC, cementing its position as the largest corporate treasury in the world. So far, strategy has spent $47.23 billion building this position at an average cost of $73,913 per coin.
At current market prices, those holdings are worth over $73 billion, leaving the company with more than $31 billion in unrealized gains.
Michael Saylor, took to X to share this update, noting the company has reached a 25.9% Bitcoin yield year-to-date.
Small buy, but bigger picture
Compared with its earlier purchase, the 525 BTC purchase is considered small. Just one week ago, the company added 1,955 BTC for $217 million, and earlier this year, the company made single purchases worth over $1 billion.
Since the summer of 2020, Strategy has kept up a tradition of buying Bitcoin almost every week, turning the company into a leader in corporate crypto investing.
Investors react as market holds steady
Strategy said it funded this latest deal by selling shares through equity programs, including STRF, STRK, and STRD preferred stock sold at-the-market.
Data shows that Strategy currently has more than $20 billion raised from STRK preferred shares and $16.1 billion from MSTR common stock issuance. While STRK preferred shares are backed by Bitcoin claims, some shareholders have expressed concerns about dilution as new stock is regularly issued to fund the company’s strategy.
Despite the announcement, Strategy’s stock price remained flat. Currently, MSTR shares are trading sideways around $324, down 1.98% in pre-market activity. This muted reaction came even as BTC itself traded near $115,000 after a weekend rebound to $116,000.
Analysts remain split on the stock’s prospects. For instance, JPMorgan has flagged risks for crypto treasury firms, but TD Cowen maintained a buy rating with a $640 target, while Benchmark placed its forecast higher at $705.
Also Read: Peter Schiff Warns “Bitcoin Is Topping Out” Ahead of Fed Cut
