Bitcoin News Today: Strategy Buys 6,220 Bitcoin at $118,940 Each as Holdings Surge 10%

Strategy, the world's largest public holder of Bitcoin, continued to accumulate Bitcoin last week as the cryptocurrency's price surged past $122,000 for the first time on Monday. The company acquired 6,220 Bitcoin (BTC) for approximately $739.8 million during the week ending Sunday, July 20, as disclosed in a US Securities and Exchange Commission filing on Monday.

Strategy's latest Bitcoin purchases were made at an average price of $118,940 per coin. The price of BTC started the week at historic levels above $122,000, dropped to an intraweek low of $116,000, and then consolidated around $118,000. This acquisition has increased Strategy's total Bitcoin holdings to 607,770 BTC, purchased for about $43.6 billion at an average price of $71,756 per coin.

Prior to announcing its latest Bitcoin acquisition, Strategy submitted a filing to the SEC on proposed sales of securities. According to the filing, Strategy’s senior executive vice president sold another 10,900 Strategy (MSTR) shares worth around $4.9 million. This sale followed a previous sale of $25.7 million worth of MSTR shares by the same executive in the preceding week.

Strategy's continued investment in Bitcoin, despite the volatility in the cryptocurrency market, underscores the company's long-term bullish stance on the digital asset. The acquisition of 6,220 BTC at an average price of $118,940 per coin demonstrates Strategy's confidence in Bitcoin's potential for future growth. The company's total holdings of 607,770 BTC, valued at approximately $43.6 billion, make it the largest public holder of Bitcoin in the world.

Strategy's decision to accumulate more Bitcoin during a period of price surges highlights the company's strategic approach to investing in the cryptocurrency. The company's average purchase price of $71,756 per coin indicates that it has been consistently buying Bitcoin over time, regardless of short-term price fluctuations. This strategy has allowed Strategy to build a significant position in the cryptocurrency market, positioning it as a major player in the industry.

Strategy's recent sales of MSTR shares by its senior executive vice president may be seen as a way to raise capital for further Bitcoin investments. The sale of 10,900 MSTR shares worth around $4.9 million, following a previous sale of $25.7 million worth of shares, suggests that the company may be looking to optimize its capital structure to support its Bitcoin acquisition strategy. However, the exact reasons for these sales are not disclosed in the filing, and further information may be needed to fully understand the company's motivations.