Michael Saylor’s Strategy, the largest public Bitcoin holder in the world, increased its Bitcoin balance as the price dipped to $112,000 last week.
Strategy acquired 3,081 Bitcoin (BTC) for $356.9 million during the week ending Sunday, according to a filing with the US Securities and Exchange Commission on Monday.
Saylor’s business intelligence software company purchased its latest Bitcoin at an average price of $115,829 per coin, as BTC started the week around $116,700 before dropping to $112,000 on Thursday, according to CoinGecko.
This acquisition raised Strategy’s total Bitcoin holdings to 632,457 BTC, acquired for approximately $46.5 billion at an average price of $73,527 per coin.
Strategy buys 3,666 BTC in August
Strategy’s latest Bitcoin purchase follows two smaller acquisitions, including a 430 BTC purchase announced last Monday and another 155 BTC buy the week before.
With this new purchase, Strategy acquired 3,666 BTC this month, a significant decrease from the 31,466 BTC purchased in July. In June, Strategy bought 17,075 BTC.
An excerpt from Strategy’s Form 8-K. Source: SEC
With Strategy’s BTC buying pace slowing in the past three weeks, it remains uncertain whether the company will make a substantial purchase in the last week of August or choose to limit acquisitions.
Historically, Strategy has refrained from buying Bitcoin during price dips, with Saylor expressing a preference for purchasing BTC at higher prices.
“I’m going to be buying the top forever. Bitcoin is the exit strategy,” the Strategy co-founder stated in 2024.
This is a developing story, and further information will be added as it becomes available.
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