Key Takeaways
- Strategy now holds 632,457 Bitcoin worth over $70 billion.
- The firm’s portfolio carries an unrealized profit of approximately $24 billion.
- Strategy’s stock MSTR has declined by around 15% in the past month; it is up 15% year-to-date.
Michael Saylor’s Bitcoin (BTC) behemoth, Strategy (formerly MicroStrategy), has netted over $350 million of BTC.
It’s made three modest purchases this month, which may be due to high market volatility. The firm’s stock also suffered a sizeable decline throughout July and August.
Strategy’s Bitcoin
According to Strategy’s latest disclosure, the firm has purchased 3,081 BTC for a total of $356.9 million at $115,829 per token.
The leading Bitcoin treasury firm now holds 632,457 BTC worth $70.26 billion and carries an unrealized profit of roughly $23.8 billion.
Strategy is aware that Bitcoin is experiencing a volatile period in August. Its acquisitions have cooled significantly from July, when it bagged 31,466 BTC.
So far this month, Strategy has purchased a modest 3,666 BTC.
According to saylortracker.com, Strategy’s last five purchases since July 14 have been in the red, with a combined loss of over $190 million.
Crypto Treasuries
Having pioneered the “infinite money glitch” business model of crypto treasuries, the global race to stack BTC as a reserve asset has accelerated, inspiring many, such as Japan’s Metaplanet, to make similarly aggressive moves.
But it’s not just Bitcoin that companies (and governments) are clamouring for.
Ethereum (ETH) has seen a gigantic uptick in institutional interest. Notably, over a dozen firms have made huge bets on ETH and are actively stacking billions of dollars.
Hyper around ETH was also reinforced by U.S. spot ETFs, which outperformed Bitcoin funds throughout August, and have also seen increasing interest from institutions.
Most recently, a Solana (SOL) treasury has been reportedly discussed between three major financial players, further highlighting the unprecedented level of faith in crypto this year.
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Eddie is a gaming and crypto writer at CCN. Covering the often weird and wonderful world of Web3 with an adoring, but skeptical eye.
Prior to CCN, Eddie has spent the past seven years working his way through the crypto, finance, and technology industry. He began with PR and journalism with Bitcoin PR Buzz and BitcoinNews.com, eventually working his way to become a copywriter with a dozen firms, including the likes of Polkadot before returning to journalism in 2023.
Having studied Radio production and journalism at University in the UK, Eddie spent a few years making podcasts and presenting on a local London radio station as he built up his writing chops.
A lifelong skateboarder, Eddie can often be found at the skatepark or touring the streets looking for something new to try. That, or kicking back playing JRPGs on his original PSP.
