Corporate Treasuries Boost Bitcoin Holdings as Price Surges Above $85,000
Strategy Inc., the largest corporate holder of Bitcoin, has increased its treasury by purchasing $183 million worth of BTC last week. The company acquired 950 BTC for $75.7 million between Sept. 14 and Sept. 20 at an average price of $79,670.
The purchase returned Strategy's holdings to 846,000 BTC, which was acquired for a total of $63.8 billion at an average cost of $75,416. This move is significant as it marks a return to accumulation, rather than balance-sheet management.
Strategy had previously been directing capital away from Bitcoin to manage its securities and keep the price near its par value through buybacks. However, with Bitcoin's recent rally, the company has returned to accumulating BTC.
Strive Inc., another corporate treasury buyer, also purchased 1,355 BTC for $107.7 million at an average price of $79,475 between Sept. 14 and Sept. 18. This move takes Strive's treasury to 26,355 BTC.