Strategy holds 840,447 Bitcoin, with the reserve valued at about $54.56 billion as of Aug. 10, according to an Odaily report citing Bitcoin.com News. The company’s cumulative purchase cost stands at roughly $63.36 billion, and its average acquisition price is listed at $75,385 per BTC. Beyond its Bitcoin position, Strategy also holds $4.65 billion in dollar reserves, while carrying $6.75 billion in debt and $15.24 billion in preferred stock.
Michael Saylor said on Aug. 15 that Bitcoin is an engineering solution for storing and transferring economic value. He said the system is built on digital scarcity, proof-of-work, and private keys. In his description, proof-of-work raises the cost and difficulty of altering the ledger through computation and electricity, while private keys let holders directly authorize transactions.
The report also said Strategy has used proceeds from selling part of its Bitcoin holdings for capital management. Between Aug. 3 and Aug. 9, the company sold 1,690 BTC, generated $108.6 million in net proceeds, and used the same amount to repurchase 1,152,020 shares of STRC preferred stock.
Strategy holds 840,447 BTC, with the reserve valued at about $54.56 billion as of Aug. 10, according to Odaily, which cited Bitcoin.com News. The company’s cumulative purchase cost is about $63.36 billion, and its average purchase price stands at $75,385 per Bitcoin.
In addition to its Bitcoin holdings, Strategy also holds $4.65 billion in dollar reserves. It also lists $6.75 billion in debt and $15.24 billion in preferred stock.
Saylor describes Bitcoin as an engineering solution
Michael Saylor said on Aug. 15 that Bitcoin is an engineering solution for storing and transferring economic value. He said digital scarcity, proof-of-work, and private keys form the foundation of the digital monetary system. In his explanation, proof-of-work increases the difficulty of altering the ledger through computation and electricity costs, while private keys allow holders to directly authorize transactions.
Part of the Bitcoin was sold for capital management
Strategy has used proceeds from selling part of its Bitcoin holdings for capital management. Between Aug. 3 and Aug. 9, the company sold 1,690 BTC, generated $108.6 million in net proceeds, and used the same amount to repurchase 1,152,020 shares of STRC preferred stock.
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