Michael Saylor’s Strategy, the world’s largest public Bitcoin holder, has added more BTC to its balance as the price swung to new all-time highs before retreating last week.
Strategy acquired 430 Bitcoin (BTC) for $51.4 million during the week ending Sunday, according to a US Securities and Exchange Commission filing on Monday.
The new Bitcoin batch cost the company an average price of $119,666 per coin, reflecting the massive volatility last week, with BTC trading at around $120,000 on Monday and slipping to as low as $115,000 on Sunday, according to CoinGecko.
An excerpt from Strategy’s Form 8-K. Source: SEC
The acquisition moved Strategy’s Bitcoin holdings to 629,376 BTC, purchased for about $46.15 billion at an average price of $73,320 per coin.
“Volatility is a gift to the faithful”
As Bitcoin saw high volatility last week, surging above $124,000 last Wednesday only to retreat to $115,000 by the end of the week, Strategy’s co-founder Saylor took to X to comment on the volatile prices.
“Volatility is a gift to the faithful,” he wrote on Thursday amid the BTC price tumbling below $118,000 the next day after reaching new all-time highs.
Bitcoin (BTC) price chart in the past seven days. Source: CoinGecko
Saylor also previously reported that Strategy’s Bitcoin holdings closed at an all-time high of $77.2 billion at the all-time high prices.
August for “small” buys?
Strategy’s new 430 BTC purchase follows another “small” Bitcoin buy of just 155 BTC announced last week, marking a significant drop from multi-thousand purchases made in previous months.
The company bought as much as 31,466 BTC in three purchases from July 14 to Aug. 3, which marked a significant surge from a total 17,075 BTC purchased in June.
The past ten Bitcoin purchases by Strategy since June 2. Source: Strategy
The acquisition is notably smaller than another Bitcoin buy by the Japanese investment firm Metaplanet, which purchased 775 BTC for around $93 million at the average price of $120,006 per BTC.
Related: Dutch firm Amdax plans Bitcoin treasury listing on Euronext Amsterdam
While Strategy’s Bitcoin buying spree has been…
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