Strategy, the world’s largest corporate holder of Bitcoin has yet again added more tokens to its stockpile despite the recent market downturn. The firm on Monday via a filing with the US SEC confirmed that it spent $356.9 million during the weekend to buy more Bitcoin.
According to the filing, Michael Saylor’s business intelligence software company in its latest acquisition bought 3,081 BTC at an average price of $115,829. Meanwhile, Strategy proceeded with the latest buying round despite the noticeable fall in the price of the premier cryptocurrency.
Market data provided by Coinmarketcap revealed that BTC started the previous week at $116,700 before moving south to $112,000 by Thursday. Currently, Bitcoin is changing hands for $110,860 and the token has been down by almost 4% in the last seven days.
Strategy slows down Bitcoin stockpile effort in August
The latest move brings Strategy’s total Bitcoin holdings to $632,457 acquired for about $46.5 billion at an average price of $73,527 per token. With the development, the firm further solidifies its position as the biggest public holder of Bitcoin, buying 3,666 BTC in August alone.
By that, the figure indicates how the company has slowed down its Bitcoin buying efforts after bringing in 31,466 BTC in July alone. More so, in June, the company purchased about 17,075 BTC raising indications there could be more purchases before August finally runs out.
However, the cooled effort to acquire more BTC is not unconnected to how Strategy in the past has refrained from buying Bitcoin during price dips. The old purchase pattern reflects how Michael Saylor mostly prefers to buy Bitcoin whenever the token is at higher prices.
How corporate investors are spending big on crypto stockpile
It is worth mentioning that Strategy is leading a new trend in the accumulation of digital assets by corporate investors. In 2024, Strategy co-founder said he would keep buying Bitcoin forever referring to the token as an “exit strategy.”
Like Strategy, a handful of public holders have launched their respective strategic stockpiles for major cryptocurrency assets like Bitcoin and Ethereum. Japan-based Metaplanet, another notable Bitcoin treasury firm, just added 103 BTC it acquired for about $11.7 million at an average price of $113,491 per token.
Recall that Metaplanet launched its Bitcoin reserve in April 2024 and it now holds about 18,991 BTC worth $1.95 billion. Away from Bitcoin, companies like BitMine and SharpLink are also turning up the heat among the corporate investors of Ethereum, the second-largest cryptocurrency.
Recently, BitMine raised $24.5 billion to boost its Ethereum strategic reserve which currently holds more than 1.2 billion ETH.
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