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The largest publicly traded corporate holder of Bitcoin, Strategy, has acquired 17,994 bitcoins for $1.28 billion. The company made these purchases between March 2 and March 8 at an average price of $70,946 per coin.
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In a filing with the U.S. Securities and Exchange Commission (SEC), Strategy reported that its balance now includes 738,731 BTC, representing over 3.4% of the total supply of the leading cryptocurrency. Since August 2020, the firm has invested more than $56 billion in Bitcoin purchases at an average price of $75,862 per coin.
The latest batch of acquisitions was funded through the issuance of common shares of MSTR in the market, as well as partially through the release of preferred shares of STRC.
The company’s chairman, Michael Saylor, updated the crypto asset acquisition tracker on the Strategy website on Sunday, March 8.
“The second century begins,” he stated, referring to the fact that the company has now completed over 100 transactions to enhance its Bitcoin reserves.
This most recent purchase marks the largest acquisition of the leading cryptocurrency since January, when Strategy bought 22,305 BTC for $2.13 billion at an average price of $95,284 per BTC.
Previously, Michael Saylor mentioned that the recovery of the Bitcoin market could take between two to seven years. However, for long-term investors, such a timeframe is merely a segment of the market cycle, rather than a disaster, according to the businessman.
