Strategy makes third-largest Bitcoin purchase

Michael Saylor, through his company Strategy (formerly MicroStrategy), announced a $2.46 billion Bitcoin purchase last week, the third largest in five years. According to a filing with the U.S. Securities and Exchange Commission (SEC), between July 28 and August 3, the company acquired 21,021 tokens, increasing its total Bitcoin holdings to 628,791.

At current prices, the value of these holdings exceeds $71 billion. The average purchase price was $117,526 per token, close to the previous highest price of $118,940.

Strategy financed these acquisitions through common and preferred stock offerings, as well as debt. The company reported an unrealized gain of $14 billion in Q2, driven by Bitcoin's price increase and an accounting change. Strategy remains the largest corporate holder of Bitcoin, and its stock has risen over 3,000% since its first purchase, outperforming Bitcoin and major indexes.