- Strategy secures 525 BTC for $60.2 million, marking its seventh straight weekly purchase.
- Michael Saylor highlights Bitcoin’s role in Strategy’s growth compared with top U.S. tech stocks.
- Capital Group’s Bitcoin-linked investments are now valued at over $6 billion, led by Mark Casey.
Strategy, the company formerly known as MicroStrategy, has announced its seventh consecutive weekly Bitcoin purchase, reinforcing its position as the largest corporate holder of the cryptocurrency.
The firm disclosed the acquisition of 525 BTC for $60.2 million, paying an average of $114,562 per coin. With this move, Strategy’s total holdings now stand at 638,985 BTC, accumulated at an average price of $73,913 each, bringing its Bitcoin yield to 25.9%.
The purchase came during a period of price weakness in both Bitcoin and Strategy’s stock. Founder Michael Saylor credited the flagship crypto for the company’s long-term outperformance against the so-called “Mag 7” stocks.
Notably, this time, Strategy did not sell MSTR shares to finance this acquisition. Instead, it raised money by selling shares of STRF, STRK, and STRD, raising revenues of $34 million, $17.3 million, and $16.9 million, respectively.
The deal followed last week’s announcement of a larger purchase of 1,955 BTC worth $217.4 million, Strategy’s continued pattern of purchasing BTC regardless of market conditions.
Also Read: Strategy Boss Predicts Bitcoin Will Crush S&P 500 by 40% Annually
Saylor’s Bitcoin-First Vision
Michael Saylor has continually made Bitcoin central to Strategy’s business transformation. The recent weekend post of his mentioned Bitcoin once more, this time while talking about the portfolio tracker of the firm and calling it integral to its value.
Saylor has continuously relabeled Strategy as larger than a software company, transforming it into a corporate vehicle that is focused on scaling up BTC accumulation.
The firm’s aggressive stance has made it distinguish itself as being apart from mainstream technology companies and made it closely in tandem with cryptocurrency market activity.
Capital Group’s Expanding Bitcoin Bet
Meanwhile, Capital Group, in its near-century-long history as a mutual fund giant, has gained significant exposure to BTC in its equity investments.
Led by portfolio manager Mark Casey, Capital Group’s exposure in shares of firms tied to BTC went up from $1 billion to more than $6 billion.
Capital Group first purchased a 12.3% stake in Strategy in 2021, then worth over $500 million. Though that stake has been reduced to 7.89%, it is now worth $6.2 billion after Strategy’s over 2,200% value rise in five years.
Casey, whose value investing philosophy is inspired by Benjamin Graham and Warren Buffett, compared BTC to commodities like gold or oil.
Also Read: Strategy Buys 155 BTC as Bitcoin Treasury Hits 628,946 Coins
