According to the latest report, the biggest Bitcoin holding company in the world, Strategy (formerly known as MicroStrategy), owned by Michael Saylor, has revealed its plan to expand its fundraising goal to $2 billion to acquire more Bitcoin.
(Source: Investing.com on X)
Strategy Accelerates Bitcoin Adoption after $122K Breakthrough
Amid bullish momentum in the cryptocurrency market, the move shows Strategy’s continued confidence in Bitcoin as a long-term investment. This comes after the company’s latest $739.8 million purchase last week. On July 21, the company acquired 6,220 BTC at an average price of $118,940, which boosts its total holdings to a staggering 607,770 BTC.
This aggressive accumulation comes as Bitcoin surged past $122,000 for the first time on July 12, thanks to growing market confidence and impressive development in crypto regulations.
On July 18, the US President Donald J. Trump signed the GENIUS Act into law, a crucial legislation for stablecoin issuers that ends their long-standing ambiguity to operate in the country. According to Trump, this historic piece of legislation will pave the way for the United States to lead the global digital currency revolution.
According to the latest report, Strategy now holds more than 3% of the total Bitcoin supply (21 million), which is a staggering share of the world’s first cryptocurrency.
Since late 2020, Strategy has employed a diverse funding strategy for its Bitcoin purchases, utilizing common shares, preferred shares, and debt instruments.
The company initially adopted such an approach as an inflation hedge, which has inspired many corporations to follow its footsteps. However, despite the entry of many new players, Strategy is still holding a top spot in the leaderboard of Bitcoin Treasury companies.
While Strategy leads in direct Bitcoin ownership, BlackRock’s iShares Bitcoin Trust ETF (IBIT) represents the largest institutional Bitcoin investment vehicle, currently managing approximately $86 billion in assets.
Recently, Michael Saylor has captured attention with an extraordinary prediction that sparked euphoria in the crypto community. His firm forecasted that Bitcoin could skyrocket by an astonishing 10,500% from its current price of around $118,000, which means it would reach over $12 million per coin.
This prediction would put Bitcoin’s market value on par with industry titans like Amazon. At the time of writing this, the total market capitalization of Bitcoin is around $2.36 trillion.
Amid the rise in the crypto market, many companies are jumping on the bandwagon of opportunities, leveraging it as a store of value.
For instance, Trump Media and Technology Group, the company behind Truth Social, has disclosed that it now holds about $2 billion in Bitcoin and crypto securities, representing two-thirds of its $3 billion in liquid assets.
Also Read: Ethena Partners with Anchorage to Launch First Federally Regulated Stablecoin
