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Strategy Isn’t Stopping! Buys 1,895 BTC in Latest Acquisition

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Publicly traded business intelligence company Strategy has increased its Bitcoin holdings by adding 1,895 BTC to its portfolio, bringing its total stash to 553,555 BTC. The purchase, valued at approximately $180 million, strengthens Strategy’s position as the largest corporate Bitcoin holder.

Strategy Keeps Stepping Up Its Bitcoin Game

For most of this year, Strategy has committed to a weekly BTC purchase practice, often announced on Mondays. The last purchase, which occurred on April 28th, saw the business intelligence firm accumulate 15,355 BTC. An example of times when the company did not acquire BTC was in early April. Strategy revealed in a filing with the United States Securities and Exchange Commission that it saw no patronage for its stock, MSTR, and its perpetual strike preferred stock, STRK.

It is worth noting that Strategy raised most of the cash for its Bitcoin acquisition through channels, such as convertible senior note offerings. In March, the business intelligence firm collaborated with around ten companies to sell STRK to investors for $0.001 each. The public company said it would raise as much as $21 billion from this funding mechanism.

This new acquisition shows that Strategy is firmly convinced that Bitcoin is the future. Despite market ups and downs, the company continues to invest heavily in cryptocurrency, seeing it as a long-term asset that could deliver strong returns over time.

Interestingly, the continuous Bitcoin acquisitions have rubbed off on MSTR’s market value. At the time of writing, the stock sells for $376.7, representing a whopping 3,500% increase since its debut.

Semler Scientific Goes Shopping Too

Strategy isn’t alone in this Bitcoin journey. Another company, Semler Scientific (SMLR), a healthcare company, has also been periodically accumulating BTC. Coincidentally, the healthcare firm announced its BTC acquisition around the same time as Strategy’s latest big buy.

Semler Scientific bought 167 BTC for $16.2 million. With this acquisition, the company has generated a 22.2% Bitcoin yield year-to-date (YTD). Its Bitcoin stash currently totals 3,634 BTC.

With firms like Strategy and Semler Scientific leading the way, it’s clear that Bitcoin’s role in corporate finance is only getting bigger. As more companies jump in, Bitcoin’s value could increase in the coming months.

The post Strategy Isn’t Stopping! Buys 1,895 BTC in Latest Acquisition appeared first on Cointab.

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