Strategy, formerly known as MicroStrategy, extended its weekly Bitcoin buying streak to a record 12 consecutive weeks with a new purchase between July 23 and 30.

According to a new press release, the company purchased 4,980 BTC at an average price of 106,801 dollars, or a total of 531.9 million dollars.

This pushes its overall Bitcoin holdings to a total of 597,325 BTC which it purchased at an average price of 70,982 per BTC valued at $42.40 billion.

MSTR Stock Nears Key $400 Level

The newest purchase ties the 12-week buying history record of the company made between November and early February. This acquisition comes after a smaller deal of 245 BTC at $26 million that it conducted two weeks ago. Strategy already has an year-to-date yield of 19.7% on its Bitcoin stake.

The new purchase was anticipated by co-founder Michael Saylor on his X platform, reporting the company BTC portfolio tracker with the statement, “In 21 years, you’ll wish you’d bought more.” The company also shows its confidence with Bitcoin, issuing capital with BTC-based securities to finance additional acquisitions.

The plan has already been a success, with unrealized profits on Bitcoin investments of $21.3 billion during recent market rallies. Saylor estimates that the value of Bitcoin may even reach $21 million in 20 years.

The shares of MicroStrategy (MSTR) have reflected the success of the Bitcoin itself, growing over 181% in the last year and becoming one of the best-performing large assets since the organization embraced its Bitcoin-oriented approach in 2020.

After closing at $383 last week, MSTR shares are currently being traded at around $ 390 during pre-market periods, which is close to the important $400 mark.

Strategy Extends Bitcoin Buying Streak to 12 Weeks

A significant event that has taken place yesterday is the company transferring 796 million dollars in Bitcoin to three new wallets. On-chain analytics company Lookonchain the transfers were most probably to better custody arrangements, rather than selling.