Bitcoin reserves grew by $740 million last week thanks to Michael Saylor’s strategy.

Michael Saylor’s Strategy Acquires 6,220 BTC, Total Holdings Reach 607,770 Coins Worth $72 Billion

Michael Saylor’s Strategy added 6,220 Bitcoin during the week ending July 20, pushing its total holdings to 607,770 BTC. The recent purchases came at an average price of $118,940 per coin, totaling approximately $740 million.

At Bitcoin’s current price of just over $118,000, the firm’s Bitcoin stash is valued at around $72 billion. These coins were originally bought at an average cost of $71,756 each, with an aggregate acquisition cost of $43.6 billion.

Funding for last week’s Bitcoin buy was primarily raised through a $736.4 million sale of common stock, alongside an additional $4 million from sales of the company’s preferred shares.

Following the news, the company’s shares rose 1.9% in premarket trading.