Strategy Acquires 13,390 Bitcoin (BTC) for $1.34 Billion

In an announcement that no longer came as a big surprise due to Michael Saylor's hint yesterday, Strategy disclosed a new whale purchase

In a recent development, American tech firm, Strategy, has announced the acquisition of 13,390 Bitcoin (BTC) for a total of $1.34 billion.

As shared in a Monday morning post, Strategy completed the transactions to buy the new batch of BTC at an average of $99,856 per coin. The transactions took place between May 5 and 11. The company used the proceeds of its Common ATM and STRK ATM shares to fund its latest round of BTC accumulation.

The event increases Strategy’s total BTC holdings to 568,840. This makes up 2.71% of Bitcoin’s 21 million circulating supply and pushes Strategy’s BTC yield to 15.5%.

So far, the business intelligence firm has invested $39.41 billion in its Bitcoin accumulation, which equates to $69,284 per BTC. At Bitcoin’s $105K top this Monday, it widens its unrealized profit from the crypto asset by more than $20 billion or nearly double the cost of its investment per BTC.

The company founded by Michael Saylor is known for its massive Bitcoin buying activity. Earlier this year, Strategy sold 240 million shares of preferred convertable STRK to finance a new initiative focused on Bitcoin. The firm also announced plans to integrate bitcoin into its financials in December 2022.

The company's stock price has increased by 186% over the past year, and its interest in bitcoin is no secret. In February, Saylor expressed his belief that bitcoin's price could reach $1 million in the next ten years due to its limited supply and increasing demand.

The new purchase comes after Strategy completed a previous batch of BTC transactions last week Friday. The transactions saw the company acquire 555 BTC for $53.4 million.

The transactions come as no surprise following an earlier hint from Saylor yesterday. The CEO of the American tech firm teased a new "Chapter 7: A Magnificent Obsession" for the company's journey in amassing BTC.

As for other crypto news, Metaplanet DEVEN (1843.T) pulled the trigger for another batch of whale Bitcoin purchases last week. The transactions netted 1,241 BTC for 18.246 billion yen (approximately $126.7 million) or 14,848,061 yen ($102,119) per BTC.

The transactions took place between May 6 and 11, according to calculations by crypto news outlet TokenInsight. They come hot on the heels of Metaplanet's last purchase of 555 BTC for 5.2 billion yen ($53.4 million).

The Japanese multinational company, which is famous for its large-scale bitcoin holdings and innovative investment strategies, used the proceeds of its zero-coupon bonds to fund the buying spree.

The company is also known for its unique approach to investing, which combines traditional financial strategies with a deep understanding of the cryptocurrency market.

The event increases Metaplanet's total BTC holdings to 6,796. The company bought the assets at an average of 13,270,989 yen ($89,492) per coin and achieved a BTC yield of 170% YTD.

At Bitcoin's $105K peak this Monday, it increases Metaplanet's paper gain by over $105 million or $15.5K per BTC.

The transactions also mark a significant milestone for Metaplanet, as it has now surpassed El Salvador's BTC reserves. According to the Nayib Bukele Portfolio Tracker, El Salvador currently holds 6,174 BTC. The Central American nation acquired its Bitcoin assets for $292.39 million at an average of $47,358.68 per BTC. This brings the country's unrealized gain to roughly $355.88 million, more than double its investment.

The new batch of transactions highlight Metaplanet's strong interest in Bitcoin and its commitment to accumulating the digital asset. The company's actions are also likely to have a significant impact on the Bitcoin market.