Strategy Buys 7,700 Bitcoin in August, SharpLink Adds 39,000 Ethereum to Treasury
The post Strategy Buys 7,700 Bitcoin in August, SharpLink Adds 39,000 Ethereum to Treasury appeared on BitcoinEthereumNews.com.
Strategy, formerly known as MicroStrategy, added over 7,700 Bitcoin in August, while SharpLink Gaming expanded its Ethereum reserves to more than 837,000 ETH. Strategy, led by Bitcoin advocate Michael Saylor, continued its aggressive Bitcoin strategy with another major purchase last week. According to a U.S. Securities and Exchange Commission (SEC) filing, the company bought 4,048 BTC between August 25 and September 1. The acquisition, valued at $449.3 million, occurred at an average price of $110,981 per coin. – Advertisement – Bitcoin’s wild swings influenced the timing, spiking above $113,000 before dropping below $108,000 on Friday. This volatility created the opportunity for Strategy’s latest purchase. With this purchase, Strategy now owns a staggering 636,505 BTC, strengthening its position as the largest public company holder of the asset. The firm has spent $46.95 billion on its Bitcoin stash, which, at current prices, is worth $69.6 billion. This leaves the company with an unrealized profit of around $22.66 billion. August Buying Slows Compared to July The latest acquisition capped a quieter month for Strategy. In total, the company purchased 7,714 BTC during August, a significant decrease from the 31,466 BTC purchased in July. August’s purchases were made in four separate transactions. Earlier in the month, Strategy disclosed the acquisition of 430 BTC and 155 BTC. A larger addition of 3,081 BTC was announced last week, before the final 4,048 BTC purchase. The company funded these buys through several at-the-market equity programs, including STRF ATM, STRK ATM, STRD ATM, and MSTR ATM. These facilities allow Strategy to raise cash by issuing and selling new shares directly into the market. SharpLink Expands Ethereum Treasury While Strategy sharpened its Bitcoin bet, SharpLink Gaming (SBET) focused on Ethereum. The firm revealed it acquired 39,008 ETH last week, spending an estimated $177 million at an average cost of…
