Michael Saylor's Strategy signals a third Bitcoin acquisition this month, keeping its position as the largest BTC holder.
Corporate Bitcoin buyer Strategy is preparing for another acquisition this month, which would be its third in August. Co-founder Michael Saylor signaled the upcoming purchase after the company recently expanded its holdings through smaller additions. The firm remains the largest corporate holder of Bitcoin and continues to accumulate despite slowing its pace.
On August 18, Strategy purchased 430 BTC for $51.4 million, bringing its total to 629,376 BTC. At current prices, the company's Bitcoin holdings are valued at more than $72 billion, according to public disclosures. Data from SaylorTracker shows unrealized gains of $25.8 billion.
Earlier in the month, Strategy had added 155 BTC, meaning it has acquired 585 BTC in August so far. While this volume is modest compared to past purchases, the company has indicated that another acquisition is imminent. Strategy continues to operate well ahead of other publicly listed companies in terms of Bitcoin exposure.
The firm began accumulating Bitcoin in 2020 with an initial $250 million investment. Since then, it has used a mix of cash, convertible bonds, and stock sales to increase its reserves. Its largest monthly buy took place in February 2021, when more than 19,400 BTC were added for around $1 billion.
Michael Saylor has consistently described Bitcoin as "digital gold" and a superior store of value to traditional assets. He has argued that U.S. Treasuries and cash lose value over time, while Bitcoin holds long-term growth potential. His stance has made Strategy a leading example for institutional investors.
Corporate treasurer Shirish Jajodia recently explained the company's buying approach. He said that Strategy executes trades through over-the-counter deals and private agreements. "Bitcoin's daily trading volume exceeds $50 billion. If you're buying $1 billion over several days, it doesn't shift the market that much," Jajodia noted.
Saylor has also pressed regulators and accounting boards to revise reporting rules for digital assets. Under current GAAP standards, companies must report impairment charges when the market price drops. He has argued this does not reflect the actual value of long-term Bitcoin holdings.
While Bitcoin gains have supported Strategy's reserves, its stock has been under pressure. Shares fell to about $325 last week, their lowest in almost four months. They later recovered to $358 by Friday, according to TradingView data.
The company's stock performance has remained closely tied to Bitcoin's price swings. Strategy shares reached more than $1,300 in February 2021 during the cryptocurrency's bull run. When Bitcoin dropped below $17,000 in December 2022, Strategy's stock also fell below $135.
Analysts have noted that the pace of Bitcoin acquisitions has slowed in recent months. Despite this, Saylor has reiterated his intention to keep building reserves whenever opportunities arise. The planned third purchase in August suggests the company will continue its long-term approach.