Michael Saylor’s strategy makes his third purchase of Bitcoin

The strategy, formerly known as Microstrategy Inc., revealed on Monday that it bought $ 2.46 billion in Bitcoin in last week – its third purchase in Dollar value since it is used for the accumulation of cryptocurrency five years ago.

The company acquired 21,021 tokens between July 28 and August 3, pushing its total assets to 628,791 Bitcoin, according to a file with the Securities and Exchange American Commission. This takes the value of the company’s Bitcoin holdings at more than $ 71 billion at current prices.

Fucked by a constant flow of stock and debt transactions, Saylor has transformed his company software company into a dominant Bitcoin business buyer. Its latest acquisition reached an average price of $ 117,526 per token, the second highest price strategy has ever paid, just behind the average of $ 118,940 last month, according to company data.

This decision underlines how Saylor transformed the financing of the public company into a specialized vehicle to raise Bitcoin – and how the strategy continues to buy even if the prices oscillate near the record levels. The strategy is by far the largest holder of the Bitcoin company, according to a Bitcointreasure.net count, and has stimulated a new public enterprise industry following a so-called cash strategy dedicated to the purchase and holding of cryptocurrencies.

To finance purchases, Saylor used a combination of sales of common and favorite actions, as well as debt. The company offers four different types of titles to investors, by launching its last offer of privileged actions, nicknamed Stretch, at the end of July. The strategy reported an unrealized gain of 14 billion dollars in the second quarter, fired by a rebound in the Bitcoin price and a recent change of accounting which forced the company to reassess its Bitcoin farms.

Saylor recently promised that he would not make new ordinary actions within 2.5 times his value of net assets, except to cover the interests of the debt or the favorite dividends. This occurs after criticisms like Jim Chanos have expressed concerns about the Bitcoin holdings of the premium strategy on its action course and the many security offers that the company offers.

Strategy shares have jumped more than 3,000% since its first purchase of Crypto, exceeding Bitcoin itself as well as the main stock indices such as S&P 500 and NASDAQ 100. Its first and second largest purchases came in November of last year, totaling $ 5.4 billion and $ 4.6 billion, according to data from the company.