Michael Saylor’s Strategy Adds 6,220 BTC, Bringing Total Holdings to 607,770 BTC Valued at $72 Billion
Michael Saylor’s Strategy purchased 6,220 Bitcoin in the week ending July 20, increasing its total Bitcoin holdings to 607,770 coins. The recent buys averaged $118,940 per Bitcoin, amounting to roughly $740 million in total expenditure.
With Bitcoin trading just above $118,000, the company’s Bitcoin portfolio is now worth approximately $72 billion. The coins were initially acquired at an average price of $71,756, with a total cost basis of $43.6 billion.
Last week’s Bitcoin purchases were primarily funded by raising $736.4 million through common stock sales, along with $4 million raised from modest sales of three preferred stock issuances.
Following the announcement, shares of the company rose 1.9% in premarket trading.
