Strategy Inc., the business-software company better known by its former name MicroStrategy, bought another 430 Bitcoin between Aug. 11 and Aug. 17 for about $51.4 million, paying an average $119,666 per token. The latest acquisition lifts the firm’s hoard to 629,376 Bitcoin, valued at roughly $46.15 billion, and brings its average cost basis to $73,320. Alongside the purchase, Strategy rescinded a restriction it had introduced only weeks earlier that limited common-stock sales to levels above the company’s implied Bitcoin premium, Bloomberg reported. Dropping the floor gives Executive Chairman Michael Saylor greater latitude to issue shares at lower prices to finance additional Bitcoin buys and cover operating expenses, tightening the company’s dependence on the cryptocurrency’s market swings. Corporate and institutional appetite for Bitcoin remains broad. Healthcare‐data firm KindlyMD, which trades as Nakamoto (NAKA), disclosed the purchase of about 5,744 Bitcoin for $679 million after raising $200 million in a convertible-note sale; its stock fell more than 13% following the announcement. The Royal Bank of Canada increased its stake in Strategy by nearly 16% during the second quarter, according to a new SEC filing, while Air Canada’s C$22 billion pension fund unveiled a $161 million allocation to the asset. Bitcoin changed hands near $117,700 on Sunday, down from last Thursday’s record $124,000. Strategy says its holdings have delivered a 25.1% return so far this year, underscoring how shifts in the token’s price continue to drive corporate treasury strategies and investor interest.
NEW: Bitcoin treasury company KindlyMD closes a $200M convertible note offering to purchase additional BTC. https://t.co/oeyYVeFZlA
Bitcoin Treasury KindlyMD Stock Dives Following $679 Million BTC Buy ► https://t.co/FjB0CzhVuk https://t.co/FjB0CzhVuk
Pension fund Trans-Canada Capital (US$22 billion AUM) now has a $161 Bitcoin ETF holding 0.7% of AUM is starting to be significant. Patient Capital is coming. https://t.co/63kixldKyV