The acquisition amounted to $449.3 million, with the company paying an average of $110,981 per coin. Following the latest acquisition, the strategy’s total Bitcoin holdings increased to 636,505 BTC. The company’s latest purchase follows a series of small acquisitions in August.
The Strategy, the world’s largest public company that holds Bitcoin, led by Michael Saylor, was disclosed in an application with the Securities and Exchange Commission on Tuesday, purchasing 4,048 Bitcoin between August 25th and September 1st.
The acquisition amounted to $449.3 million, with the company paying an average of $110,981 per coin.
The purchase was made as Bitcoin price temporarily rose above $113,000 before falling below $108,000 last Friday.
Strategic BTC bet
Following the latest acquisition, the strategy’s total Bitcoin holdings increased to 636,505 BTC.
The company acquired the reserves at around $46.95 billion, with an average purchase price of $73,765 per coin.
The company said its latest acquisition was funded through revenue from market sales of Class A Common Stock (MSTR) and through permanent preferred equity programs such as STRK, STRF and Stride (STRD).
The strategy reported that 1,237,000 MSTR shares were sold for $425.3 million and $16,310 billion is still being issued on the market program.
Additionally, the company sold 199,509 shares for around $19 million, with $203.9 billion remaining, with 237,931 shares remaining with $26.5 million remaining, with $1.8 billion remaining and 12,973 shares remaining with $1 million.
Purchase activity in August will be slower
The company’s latest purchase follows a series of small acquisitions in August.
The strategy announced last week the purchase of 3,081 BTC and earlier acquisitions of 430 BTC and 155 BTC in the same month.
In combination with the latest purchase, the company acquired 7,714 BTC in August, significantly lower than the 31,466 BTC it purchased in July.
Saylor has shown the possibility of additional acquisitions ahead of the filing, posting an update to its strategy Bitcoin tracker over the weekend, saying that Bitcoin is “still on sale.”
The company also confirmed that the investor group dropped its class action lawsuit on Thursday.
The lawsuit filed in May alleged that the strategy issued a false and misleading statement about its investment strategy.
BTC Financial Race
According to data from Bitcoin Treasuries, 163 public companies have adopted some form of Bitcoin acquisition model.
Other large owners include Mara at 50,639 BTC, Tetherback 21 at 43,514 BTC, Bitcoin Standard Treasurer Adam Buck and Cantor Fitzgerald Buck Bitcoin Standard Finance Company with 30,021 BTC, 24,000 BTC, Metaplanet with Metaplanet with 20,000 BTC, and Riot Platforms with 19,239 BTC, Coinbase at grang btc, 12,703 BTC, and 11,776 BTC.
