Strategy Adds $740M of Bitcoin as Price Surges Past $122K

Increasing Bitcoin Holdings

Michael Saylor’s Strategy, the world’s largest public holder of Bitcoin, made another significant purchase of the cryptocurrency last week as the price surged past $122,000 for the first time on Monday. According to a filing with the US Securities and Exchange Commission, Strategy acquired 6,220 Bitcoin for $739.8 million during the week ending Sunday, July 20. The average price per coin was $118,940.

Consolidating at Historic Levels

The acquisition of Bitcoin has now increased Strategy’s holdings to 607,770 BTC, which were purchased for approximately $43.6 billion at an average price of $71,756 per coin. Despite starting the week above $122,000, the price of BTC dropped to an intraweek low of $116,000 before stabilizing around $118,000, as reported by CoinGecko.

Executive Sales and Updates

Prior to the latest Bitcoin acquisition, Strategy’s senior executive vice president Wei-Ming Shao sold 10,900 MSTR shares worth around $4.9 million, according to another SEC filing. This follows a $25.7 million MSTR sale by the same executive in the previous week. As the situation continues to develop, more information will be provided as it becomes available.

Bitcoin OG Willy Woo Sells Most of His Bitcoin

In other news related to Bitcoin holders, renowned Bitcoin analyst Willy Woo has reportedly sold most of his Bitcoin holdings. The reasons behind this decision have not been disclosed yet, but the move has caught the attention of the cryptocurrency community. As the market continues to evolve, more updates on this story are expected in the near future.