Michael Saylor’s Strategy, the world’s largest public holder of Bitcoin, added another large tranche of BTC to its holdings last week, pushing total reserves above 738,000 BTC.

Saylor’s Strategy acquired 17,994 Bitcoin

BTCUSD for $1.28 billion last week, according to a US Securities and Exchange Commission filing on Monday.

The purchase marks the largest BTC acquisition made by Strategy since January, when it acquired 22,305 BTC for $2.13 billion at an average price of $95,284 per BTC.

The latest purchase was made at an average price of $70,946 per Bitcoin, below the company’s overall average acquisition price of $75,862, Strategy said, but well above the $67,000 level at which BTC traded for most of the week.

The purchase brings its holdings to 738,731 BTC, acquired for a total cost of roughly $56 billion, the company said.

The first major buy below Strategy’s cost basis

Strategy’s latest Bitcoin purchase marks one of its largest BTC acquisitions on record, despite BTC trading below the company’s cost basis.

In the past, during similar below-cost periods around 2022-2023, Strategy typically avoided larger buys, completing a total of 28,560 BTC across seven smaller purchases.