Company Increases Bitcoin Possessions Further by Acquiring Additional 525 Coins
In a significant move, the world's leading Bitcoin treasury firm, Strategy, has increased its Bitcoin (BTC) holdings by 525 coins, worth approximately $60.2 million. With this latest purchase, Strategy now holds a total of 638,985 BTC on its balance sheet, currently worth slightly more than $73 billion.
According to data from Coingecko, Strategy is, by far, the largest publicly-listed company in terms of total BTC held on its balance sheet. It is followed by MARA Holdings, which holds 52,477 BTC. This purchase has increased Strategy's holdings to represent a little more than 3% of Bitcoin's total supply of 21 million BTC.
The average purchase price of the total holdings hovers around $73,913 per BTC. The firm's latest BTC purchase was made through proceeds from at-the-market sales of its Perpetual Strike preferred stock STRK, perpetual Stride preferred stock, STRD, and perpetual Strife preferred stock, STRF.
In terms of paper gains, the firm is currently sitting on a gain of roughly $26 billion. The total acquisition cost of Strategy's BTC holdings stands at $47.2 billion.
Other countries are also following the trend set by El Salvador, the first country to share a dedicated BTC strategy. Kyrgyzstan is the latest to join the trend, pushing for a national Bitcoin reserve. Lawmakers from other countries, like the Philippines and Brazil, have also expressed similar ideas.
Meanwhile, BitMine Immersion Technologies, a major player in the crypto market, reports total crypto and cash holdings over $10 billion. BitMine now holds more than 2.1 million Ethereum (ETH), worth almost $9.75 billion. Recently, BitMine purchased another 82,233 Ethereum (ETH), worth around $370 million. BitMine tops the list of publicly-listed companies with the highest amount of ETH held.
In the broader context, a recent report notes that the total monetary value of BTC held by BTC treasury firms is now over $113 billion. Alex Thorn, head of firmwide research at Galaxy Digital, has stated a 'strong chance' that the US will establish a Bitcoin reserve by the end of 2025.
Following today's purchase, Strategy's stock (MSTR) is currently down 2.15%, trading at $324.31 at the time of writing. It remains to be seen how this move will impact the overall crypto market and the broader financial landscape.
At press time, BTC trades at $114,864, down 0.6% in the past 24 hours. The crypto market continues to evolve, with major players like Strategy and BitMine leading the way in terms of crypto holdings.
