Bloomberg reported on Monday that Strategy (formerly MicroStrategy), the company holding the largest amount of Bitcoin globally, now possesses Bitcoin worth nearly 72 billion USD.
According to documents filed with the U.S. Securities and Exchange Commission (SEC), Strategy acquired an additional 6,220 Bitcoins for 739.8 million USD over a seven-day period ending July 20.
This acquisition brings the company’s total Bitcoin holdings to 607,770 coins, representing approximately 3.05% of the 19.9 million Bitcoins mined to date.
As of Monday, the value of Strategy’s Bitcoin holdings stood at around 72 billion USD.
Michael Saylor, Strategy’s CEO, began accumulating cryptocurrency in late 2020 as a hedge against inflation.
Since then, the company has increased its holdings to over 600,000 Bitcoins. The recent Bitcoin rally has pushed the value of these holdings close to 72 billion USD.
Strategy’s stock price has skyrocketed by more than 3,500% since Saylor began purchasing Bitcoin. During the same period, Bitcoin itself rose by 1,100%, while the S&P 500 gained only 120%.
On Monday, Strategy’s stock closed at 426.28 USD, up 0.72% for the day. This increase pushed the company’s market capitalization to 119.7 billion USD.