- Strategy acquires 4,980 more BTC, lifting total holdings to 597,325.
- The company now controls over 2.8% of Bitcoin’s total supply.
- Michael Saylor predicts Bitcoin could boost U.S. economy by $81 trillion.
Strategy, formerly known as MicroStrategy, has once again made headlines in the world of digital assets. Between June 23 and June 29, according to a recently submitted 8-K filing with the U.S Securities and Exchange Commission (SEC), the company said it added another 4,980 Bitcoin to its total holding, worth about 531.9 million dollars. The cost price averaging at 106,801 per Bitcoin was one of the most significant and costly acquisitions by the company to date.
Strategy Now Holds 597,325 BTC Worth Over $64 Billion
This latest purchase puts Strategy BTC under its total possession of 597,325 BTC. Such assets are now worth more than 64 billion dollars. The total amount that the company has used to make such purchases, along with all the related charges and costs is approximately 42.4 billion dollars. This takes the average cost of the firm at the sector to $70,982 in its investment in Bitcoins as reported by its co-founder and the executive chairman, Michael Saylor.
It is significant to note that the figure will exceed 2.8% of the 21 million fixed coins that constitute Bitcoin. Basically, Strategy currently possesses a large amount of the total amount of Bitcoin that shall ever exist. This also means that the company is also enjoying unrealized or so-called paper profits of about $21.6 billion.
Strategy has led the adoption of Bitcoin in corporations over the years. Its move to hold Bitcoins as a treasury reserve has contributed to a similar move by other businesses. Other companies that recently added Bitcoin to its balance sheets include Trump Media, GameStop, and Semler Scientific. Additionally, Metaplanet, a Japan-based investment company, has increased its overall assets in 13,350 BTC.
While some investors express concerns over the company’s stock trading at a premium to its net asset value (NAV), others remain optimistic. Bernstein analysts have described their confidence in the model’s strategy, noting that their debt levels are low and that they have no debt to repay until 2028. Nevertheless, the fact it keeps an enormous amount of Bitcoin in storage has made some heads turn among conventional financial communities.
Saylor Says Bitcoin May Bring $81T Boost to U.S. Economy
Michael Saylor continues to be one of Bitcoin’s most vocal supporters. He has repeatedly indicated that he believes that Bitcoin has the potential to surpass all of the traditional assets, including gold and real estate. As Saylor recently stated, he even said that Bitcoin might one day cost lakhs of dollars or more than a coin. Such a step, the U.S. government could, according to him, reap a revenue of up to 81 trillion dollars in taxes and economic growth in case it entirely takes advantage of Bitcoin as a strategic asset.
Going forward, Strategy does not intend to slow down on its acquisition of Bitcoins. The firm has practically integrated the accumulation of Bitcoins into its underlying financial plan. Strategy remains unique in the public market due to a combination of traditional experience in capital raising and strong faith in the potential of digital assets.
Strategy has been an important force in the developing crypto-financial ecosystem because of its vicious and long-term tactics in terms of Bitcoin acquisition. Under good leadership, pure vision, and firm belief in the digital future, Strategy seems to be on a long-term ride on Bitcoin.
