Strategy’s Last Bitcoin Buy Preceded New ATH, Latest Buy Adds 6,220 BTC 

The move comes barely a month after a massive $1 billion BTC purchase that preceded the cryptocurrency’s climb to an all-time high earlier this July.

Well-Timed Accumulation

While Strategy hasn’t always nailed the timing of its Bitcoin acquisitions, its recent buys have benefited from upward momentum in the price of BTC since early April.

The billion-dollar purchase in June was one of Strategy’s largest and preceded a market rally in the second week of July that helped push Bitcoin to a new all-time high.

With BTC currently trading comfortably just below the $120,000 mark, in its latest acquisition, Strategy paid around $118,940 per bitcoin.

As of July 20, the firm held a total of 607,770 BTC acquired for around $43.61 billion.

The Original Bitcoin Treasury Company

Since Strategy first embarked on its Bitcoin treasury journey in 2020, a host of copycats have cropped up looking to emulate its model.

Some, like Metaplanet, have also gone all in on the scramble for BTC, essentially sidelining their original business to accumulate crypto. But others have sought a more balanced approach.

Diverging Strategies

There is a growing trend for companies like GameStop incorporating crypto into their reserves as a hedge against inflation, without necessarily becoming pure-play Bitcoin treasury firms.

Asked if he was looking to turn the firm into a “mini MicroStrategy” recently, Gamestop CEO Ryan Cohen denied the charge.

“We have our own strategy,” he insisted, emphasizing that BTC is just one asset of many on the retailer’s balance sheet.

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