- Michael Saylor posted Strategy’s Bitcoin acquisition chart on X on Sunday, captioned “We’re gonna need another color”, after four consecutive weekly filings disclosed no purchases.
- Strategy held 843,775 BTC as of 19 July at an average cost of US$75,476 a coin, and its last disclosed buy was 520 BTC reported on 22 June.
- The company’s US dollar reserve reached US$3.225 billion on 19 July, more than double its level a month earlier.
Michael Saylor posted Strategy’s Bitcoin (BTC) acquisition chart on X on Sunday with the caption “We’re gonna need another color”, days after the company filed its fourth consecutive weekly update showing no BTC purchases.
Strategy held 843,775 BTC as of 19 July, according to the Form 8-K it filed the following day, at an aggregate purchase price of US$63.69 billion (AU$91.08 billion) and an average of US$75,476 (AU$107,931) a coin.
The holding has not changed since 5 July. Its last disclosed purchase was 520 BTC for US$34.9 million (AU$49.9 million), bought between 15 and 21 June at an average US$67,068 (AU$95,907) and reported on 22 June.
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Cash Reserve Grows
Strategy sold 2,732,318 shares under its at-the-market program in the week to 19 July, raising US$263.5 million (AU$376.81 million) in net proceeds. It bought no Bitcoin that week and repurchased none of its own stock.
Its US dollar reserve, which funds preferred dividends and interest on its debt, stood at US$3.225 billion (AU$4.61 billion) on 19 July, up from US$1.4 billion (AU$2 billion) a month earlier. It covers payouts on four listed preferred instruments, and on 29 June the company lifted the rate on its variable-rate STRC shares to 12% a year.
Some of that cash came from selling Bitcoin. Strategy sold 3,588 BTC for about US$216 million (AU$308.88 million) between 29 June and 5 July, the largest disposal since it began buying in 2020, and used the proceeds to pay preferred dividends and replenish the reserve.
The sales ran in two tranches: 1,363 coins at an average US$59,256 (AU$84,736) and 2,225 at US$60,773 (AU$86,905).
Bitcoin reaches $65K
Bitcoin traded at US$65,133 (AU$93,140) on Monday, valuing the 843,775 coins at about US$54.96 billion (AU$78.59 billion), roughly US$8.73 billion (AU$12.48 billion) less than Strategy paid for them.
The company booked an US$8.32 billion (AU$11.9 billion) loss on digital assets in the second quarter and carried US$49.67 billion (AU$71.03 billion) of them at 30 June, on unaudited figures.
MSTR closed at US$91.67 (AU$131.09) on Friday, down from US$101.95 (AU$145.79) on Tuesday.
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