 
 
Michael Saylor’s Bitcoin treasury firm, Strategy, spent $22.1 million to acquire 196 BTC last week at an average price of $113,048 per coin, according to a Monday 8-K filing with the U.S. Securities and Exchange Commission.
Strategy Continues Building Bitcoin Stockpile
Strategy, which began acquiring Bitcoin in 2020, now maintains a Bitcoin treasury of 640,031 BTC, valued at a whopping $72.6 billion at the time of writing, which is more than ten times the size of the next-largest treasury held by Bitcoin miner MARA.
Strategy’s total stockpile was purchased for a total cost of $47 billion, or at an overall average price of $73,983. Other publicly traded companies that have built Bitcoin treasuries also include Semler Scientific, Metaplanet, GameStop, and Tesla.
Bitcoin is trading just above $113,400, after retreating from its August record high of around $124,128, according to crypto data provider CoinGecko. The top asset has gained a meagre 0.5% over the past week.
To fund its latest acquisition, the Tysons Corner, Virginia-based company, formerly known as MicroStrategy, used proceeds from its STRF preferred stock offering, perpetual STRD preferred stock, and its existing $21 billion MSTR common stock offering.
 
As has become routine, Saylor gave his usual hint at the probability of another Bitcoin purchase filing before the official announcement, sharing an update on Strategy’s BTC acquisition tracker on Sunday, positing, “Always ₿e Stacking.”
Strategy Shares Plummet To Six-Month Low
Meanwhile, shares of the Bitcoin giant have slumped significantly after a blockbuster year.
In a recent post on X, Maartunn, a community analyst at on-chain analytics platform CryptoQuant, highlighted MSTR’s recent drop to $300, its lowest level in six months. Maartunn described the decline to levels last seen in April as a “painful move for the biggest corporate Bitcoin holder.”
Despite the drawdowns, MSTR is still up 2,300% in this bull market, Strategy bull Julius recently observed on X.
Source: https://zycrypto.com/always-be-stacking-michael-saylor-says-as-strategy-adds-22-million-to-bitcoin-treasury/
