Strategy bought $51.4 million in Bitcoin last week as BTC surged to all-time highs above $124,000 last Wednesday, only to dip to $115,000 on Sunday.
Michael Saylor’s Strategy, the world’s largest public Bitcoin holder, has added more BTC to its balance as the price swung to new all-time highs before retreating last week.
Strategy acquired 430 Bitcoin (BTC) for $51.4 million during the week ending Sunday, according to a US Securities and Exchange Commission filing on Monday.
The new Bitcoin batch cost the company an average price of $119,666 per coin, reflecting the massive volatility last week, with BTC trading at around $120,000 on Monday and slipping to as low as $115,000 on Sunday, according to CoinGecko.
The acquisition moved Strategy’s Bitcoin holdings to 629,376 BTC, purchased for about $46.15 billion at an average price of $73,320 per coin.
“Volatility is a gift to the faithful”
As Bitcoin saw high volatility last week, surging above $124,000 last Wednesday only to retreat to $115,000 by the end of the week, Strategy’s co-founder Saylor took to X to comment on the volatile prices.
“Volatility is a gift to the faithful,” he wrote on Thursday amid the BTC price tumbling below $118,000 the next day after reaching new all-time highs.
Saylor also previously reported that Strategy’s Bitcoin holdings closed at an all-time high of $77.2 billion at the all-time high prices.
August for “small” buys?
Strategy’s new 430 BTC purchase follows another “small” Bitcoin buy of just 155 BTC announced last week, marking a significant drop from multi-thousand purchases made in previous months.
The company bought as much as 31,466 BTC in three purchases from July 14 to Aug. 3, which marked a significant surge from a total 17,075 BTC purchased in June.
The acquisition is notably smaller than another Bitcoin buy by the Japanese investment firm Metaplanet, which purchased 775 BTC for around $93 million at the average price of $120,006 per BTC.
Related: Dutch firm Amdax plans Bitcoin treasury listing on Euronext Amsterdam
While Strategy’s Bitcoin buying spree has been slowing down, Saylor continued following the growing Bitcoin treasury trend, reposting multiple updates, including ones by Metaplanet’s Simon Gerovich and BTC treasuries follower NLNico.
According to an NLNico post that Saylor retweeted on Monday, global BTC treasury companies collectively bought 3,900 Bitcoin and made a total of 62 announcements in the period from Aug. 11–17.
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