Strategy again buys Bitcoin: 740 million dollars invested in BTC

Strategy has again invested heavily in Bitcoin (BTC). The company bought 740 million dollars from BTC, with which the total property rose to 607,770 coins. Founder Michael Saylor confirmed the purchase shortly after Bitcoin reached a new all-time high of 123,200 dollars last week.

Strategy again buys $ 740 million

Strategy says that it has bought BTC for nearly $ 740 million. This allowed it to purchase a total of 6,220 BTC. The purchases took place while the Bitcoin course fluctuated between around $ 116,000 and $ 122,000. Strategy paid on average around $ 118,940 per coin.

The total property is 607,770 Bitcoin. With a current rate of $ 118,200, this represents a value of $ 71.8 billion. The average purchase price also amounts to $ 71,756. As a result, the company has a paper profit of 28.2 billion dollars.

Almost every week it is hit again and buys Bitcoin. Since April 14, the company announced a purchase no less than fourteen times. Only in the week of July 7 were no coins bought. The performance of BTC is reflected in the share of Strategy. Thursday it rose to a new all-time high. The share came out on a peak value of more than 457 dollars. In the meantime it has dropped slightly, to a price of around 430 dollars.

Companies buy Bitcoin en masse

Strategy is a source of inspiration for many other companies. Semler Scientific also delves deeper into Bitcoin. This month, the American health company picked up another 210 BTC for $ 25 million. Their total ownership is now 4,846 BTC. Currently this is good for $ 572 million and a place in the top 15 largest public Bitcoin holders. With that they even leave gamestop behind.

Yet there is a comment. Many of these companies buy their BTC through loans or share issues. This can cause problems if the Bitcoin course drops. It is possible that their debt burden becomes too heavy or that shareholders become restless in the event of a sharp price fall. In the worst case, companies may have to sell their coins to pay off the debts.

However, Strategy seems to be good because they started building a BTC reserve a long time ago. Their average purchase price is therefore considerably lower. For companies that later board, this may turn out to be very different.