Strategy Temporarily Halts Bitcoin Purchases
Strategy, the world’s largest corporate holder of Bitcoin, has paused its weekly BTC acquisitions for the first time since April 14. Michael Saylor, Strategy’s Chairman and co-founder, hinted at this decision in a recent tweet emphasizing the value of holding assets during market fluctuations.
Current Bitcoin Holdings and Financial Impact
Strategy currently holds 597,325 BTC, valued at over $64 billion. The company acquired these assets at an average price of $70,982 per Bitcoin, totaling approximately $42.4 billion in expenditures. This represents more than 2.8% of Bitcoin‘s total circulating supply.
During Q2, Strategy reported $14.05 billion in unrealized gains as BTC prices rose from $82,000 to $108,000. This appreciation resulted in a $4.04 billion deferred tax liability for the company.
$4.2 Billion Capital Raise for Bitcoin Acquisition
Strategy announced plans to raise $4.2 billion through its Series A Perpetual Stride Preferred Stock (STRD). Priced at $0.001 per share, this at-the-market offering follows similar initiatives like the $21 billion STRK ATM program, all aimed at expanding Strategy’s Bitcoin reserves.
Corporate Bitcoin Adoption Trends
Strategy’s approach has influenced other companies to incorporate Bitcoin into their balance sheets. Metaplanet, often called Japan’s Strategy, recently added 2,205 BTC, bringing its total to 15,555 BTC worth over $1.6 billion. Other firms including Semler Scientific, Trump Media, and GameStop have also begun allocating treasury funds to Bitcoin.
Recent Bitcoin Market Performance
At publication time, Bitcoin traded at $108,066, down 0.5% on the day but up 2.4% over the past month, according to CoinGecko data.
