Strategy, formerly known as MicroStrategy, has continued its aggressive Bitcoin accumulation, completing its seventh straight weekly purchase. Between September 8 and 14, the company acquired 525 BTC for $60.2 million at an average price of $114,562 per coin.
With this latest buy, Strategy now holds 638,985 BTC, valued at an average purchase price of $73,913 per Bitcoin. The company’s BTC investment has delivered a yield of 25.9% so far.
Michael Saylor, the firm’s executive chairman, once again praised Bitcoin’s role in Strategy’s success, saying the cryptocurrency “deserves credit” for the company’s long-term outperformance compared to major tech stocks like the “Mag 7.”
Interestingly, the SEC filing revealed that this purchase was not funded by selling MSTR shares. Instead, Strategy raised capital by selling STRF ($34M), STRK ($17.3M), and STRD ($16.9M) shares. This differs from earlier strategies where MSTR stock sales played a key role in funding Bitcoin buys.
Just last week, Strategy bought 1,955 BTC for $217.4 million, underscoring its relentless approach to expanding its Bitcoin treasury.
However, despite the bullish moves on Bitcoin, MSTR stock dropped over 2%, trading around $325, compared to last week’s close at $331. Over the past month, shares have declined more than 16%, reflecting Bitcoin’s recent sideways movement after pulling back from its $124,000 all-time high.
Skeptics remain vocal, with Bitcoin critic Peter Schiff warning that BTC could be topping out ahead of the Federal Reserve’s expected rate cut. The current Bitcoin price is hovering just below the $115,000 mark, leaving investors cautious about whether the market will see a relief rally or a sell-off.
