According to a recent 8-K filing with the US Securities and Exchange Commission (SEC), Strategy – formerly known as MicroStrategy – added another 525 Bitcoin (BTC) to its holdings between September 8 to September 14.
Strategy Continues To Bolster Bitcoin Reserves
Strategy, the world’s leading Bitcoin treasury firm, strengthened its BTC reserves as it added 525 BTC worth approximately $60.2 million. The average purchase price per BTC stood at $114,562.
Latest data shows that Strategy now holds a total of 638,985 BTC on its balance sheet, currently worth slightly more than $73 billion. The average purchase price of the total holdings hovers around $73,913 per BTC, while the total acquisition cost stands at $47.2 billion.
Essentially, Strategy now holds a little more than 3% of Bitcoin’s total supply of 21 million BTC. In terms of paper gains, the firm is currently sitting on a gain of roughly $26 billion.
Notably, Strategy’s latest BTC purchase was made through proceeds from at-the-market sales of its Perpetual Strike preferred stock STRK, perpetual Stride preferred stock, STRD, and perpetual Strife preferred stock, STRF.
Following today’s purchase, Strategy’s stock (MSTR) is currently down 2.15%, trading at $324.31 at the time of writing. However, the stock is up 11.89% on a year-to-date (YTD) scale.
Data from Coingecko shows that Strategy is, by far, the largest publicly-listed company in terms of total BTC held on its balance sheet. It is followed by MARA Holdings, which holds 52,477 BTC. A recent report notes that the total monetary value of BTC held by BTC treasury firms is now over $113 billion.
BitMine Increases Its Ethereum Exposure
In similar news, BitMine Immersion Technologies today reported that its total crypto and cash holdings are now over $10 billion. According to today’s update, it appears that the firm has purchased another 82,233 Ethereum (ETH), worth around $370 million.
Tom Lee’s BitMine now holds more than 2.1 million ETH, worth almost $9.75 billion. The firm also holds 192 BTC, worth $22.1 million. BitMine still holds close to $569 million in unencumbered cash.
In terms of publicly-listed companies with the highest amount of ETH held, BitMine tops the list. Other entities that make up the top five are SharpLink, Coinbase, Bit Digital, and ETHZilla.
The trend of companies embracing cryptocurrencies such as Bitcoin and Ethereum is now being replicated by nation-states around the world. While El Salvador was the first country in the world to share a dedicated BTC strategy, many other countries are now joining the bandwagon.
For instance, the Central Asian country of Kyrgyzstan recently pushed for a national Bitcoin reserve. Lawmakers from other countries, like the Philippines and Brazil, have also expressed similar ideas.
Alex Thorn, head of firmwide research at Galaxy Digital, recently stated that there is a “strong chance” that the US will establish a Bitcoin reserve by the end of 2025. At press time, BTC trades at $114,864, down 0.6% in the past 24 hours.
Featured image from Unsplash.com, charts from Coingecko, Yahoo! Finance, and TradingView.com
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