Strategy Adds $217 Million in Bitcoin as Price Holds Firm
Michael Saylor’s company, Strategy, the largest institutional holder of Bitcoin, has expanded its BTC position by acquiring 1,955 coins between September 2 and 7. This latest purchase, totaling $217.4 million, was made at an average price of $111,196 per Bitcoin, during a brief price surge above $113,000 last week before settling near $110,000.
Following this acquisition, Strategy’s total Bitcoin holdings have increased to 638,460 BTC. These coins were accumulated at an average cost basis of approximately $73,880 per Bitcoin, representing a total investment of about $47.2 billion.
Slowing Pace of Bitcoin Accumulation
While Strategy continues to buy Bitcoin, the pace of acquisitions has moderated in recent months. In August, the company purchased roughly 7,714 BTC, a significant reduction compared to July’s 31,466 BTC and June’s 17,075 BTC purchases.
The recent Bitcoin purchases were financed through proceeds from three at-the-market (ATM) equity offerings, including Series A Perpetual Strike Preferred Stock (STRF and STRK) and common stock (MSTR).
Exclusion from S&P 500 Index Additions
Despite expectations, Strategy was not included in the latest round of additions to the S&P 500 index announced last Friday. Instead, the index added companies such as Robinhood, AppLovin, and Emcor Group, with the changes set to take effect before market open on September 22.
ETF analyst Eric Balchunas noted that the S&P 500 index is managed by a “secretive committee,” which ultimately determines constituent changes. This discretionary process likely influenced Strategy’s exclusion from the index.
FinOracleAI — Market View
Strategy’s continued Bitcoin purchases at elevated prices signal confidence in BTC’s medium-term value, supporting price stability around the $110,000 level. However, the recent slowdown in buying volume suggests a cautious stance amid market uncertainty. The exclusion from the S&P 500 may limit additional institutional inflows tied to index funds, posing a potential headwind. Investors should monitor Strategy’s buying patterns and broader market reactions to institutional adoption signals.
Impact: neutral
