Strategy Owns 3% of Bitcoin in Circulation After Latest Buy (1)

Michael Saylor’s Strategy now owns more than 3% of all the Bitcoin ever minted following the crypto treasury company’s latest purchase of the original cryptocurrency.

The former MicroStrategy Inc. acquired 6,220 Bitcoin for $739.8 million during the seven days ended July 20, according to a filing Monday with the US Securities and Exchange Commission. This raised the Tysons Corner, Virginia-based firm’s holdings to 607,770 Bitcoin — which is about 3.05% of the roughly 19.9 million token issued. The stack is worth about $72 billion.

Strategy has been using a combination of common and preferred shares, as well as debt, ...