Strategy Makes 12th Consecutive Weekly Bitcoin Purchase

Strategy, previously MicroStrategy, made another Bitcoin purchase between July 23 and 30, extending the companys weekly BTC purchase streak, which began in April, to a record 12 weeks. Meanwhile, the MSTR stock is up from its weekly close of $383 last week and is looking to reclaim the $400 level.

Strategy Acquires 4,980 BTC for $531.9 Million

In a press release, the company announced that it acquired 4,980 BTC for $531.9 million at an average price of $106,801 per Bitcoin. It has also achieved a BTC yield of 19.7% year-to-date (YTD). The firm now holds 597,325 BTC, which it acquired for $42.40 billion at an average price of $70,982 per BTC.

This is Strategys 12th consecutive weekly purchase in as many weeks, tying a similar record, which it achieved between November last year and early February this year. Meanwhile, the latest purchase follows its second-smallest BTC purchase this year, having acquired 245 BTC for $26 million two weeks ago.

The company‘s co-founder, Michael Saylor, had, in his usual manner, hinted at the Bitcoin purchase when he posted the MicroStrategy BTC portfolio tracker on his X platform yesterday. He made the post with the caption, “In 21 years, you’ll wish youd bought more.”

Source: Michael Saylors X

Saylor and Strategy continue to bet big on Bitcoin, with the company showing no signs of slowing down as it continues to offer BTC-backed securities to raise capital for more purchases.

However, this bet has paid off so far. As CoinGape reported, the Bitcoin bet recently hit $21.3 billion in unrealized gains and continues to soar with every BTC rally. Saylor predicts that the Bitcoin price will rally to $21 million in the next 21 years.

The Positive Impact On The MSTR Stock

The Bitcoin bet has also reflected positively on the MicroStrategy stock, which has been the best-performing major asset since the company adopted this strategy in 2020. MarketWatch data show that the MSTR stock has also increased by over 181% in the last year.

Meanwhile, the MSTR stock is up from its weekly close last week and looking to reclaim the psychological $400 price level. TradingView data shows that the stock is up almost 2% in pre-market trading, trading at around $390.

Source: TradingView

It is worth mentioning that Strategy raised eyebrows after the company transferred $796 million BTC to three new wallets yesterday. However, on-chain analytics platform Lookonchain noted that this move is likely for improved custody rather than to sell.

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