Strategy, formerly known as MicroStrategy, added over 7,700 Bitcoin in August, while SharpLink Gaming expanded its Ethereum reserves to more than 837,000 ETH.
Strategy, led by Bitcoin advocate Michael Saylor, continued its aggressive Bitcoin strategy with another major purchase last week.
According to a U.S. Securities and Exchange Commission (SEC) filing, the company bought 4,048 BTC between August 25 and September 1. The acquisition, valued at $449.3 million, occurred at an average price of $110,981 per coin.
Bitcoin’s wild swings influenced the timing, spiking above $113,000 before dropping below $108,000 on Friday. This volatility created the opportunity for Strategy’s latest purchase.
With this purchase, Strategy now owns a staggering 636,505 BTC, strengthening its position as the largest public company holder of the asset. The firm has spent $46.95 billion on its Bitcoin stash, which, at current prices, is worth $69.6 billion. This leaves the company with an unrealized profit of around $22.66 billion.
August Buying Slows Compared to July
The latest acquisition capped a quieter month for Strategy. In total, the company purchased 7,714 BTC during August, a significant decrease from the 31,466 BTC purchased in July.
August’s purchases were made in four separate transactions. Earlier in the month, Strategy disclosed the acquisition of 430 BTC and 155 BTC. A larger addition of 3,081 BTC was announced last week, before the final 4,048 BTC purchase.
The company funded these buys through several at-the-market equity programs, including STRF ATM, STRK ATM, STRD ATM, and MSTR ATM. These facilities allow Strategy to raise cash by issuing and selling new shares directly into the market.
SharpLink Expands Ethereum Treasury
While Strategy sharpened its Bitcoin bet, SharpLink Gaming (SBET) focused on Ethereum. The firm revealed it acquired 39,008 ETH last week, spending an estimated $177 million at an average cost of $4,531 per coin.
The purchase pushed SharpLink’s total holdings to 837,230 ETH, valued at nearly $3.6 billion as of Tuesday. The buy was financed mainly through $46.6 million raised via the company’s at-the-market equity program in the week ending August 31.
Since launching its Ethereum treasury strategy in June, SharpLink has earned 2,318 ETH in staking rewards. The company also reported $71.6 million in cash reserves available for future deployment.
SharpLink highlighted its growing commitment to Ethereum with a treasury ratio called the ETH concentration metric. This measure, which compares ETH exposure to cash, now stands at 3.94. In simple terms, the company holds nearly four dollars of Ethereum for every dollar of cash on hand.
As of press time, Bitcoin is trading at $109,480, showing little change over 24 hours, while Ethereum has fallen 3% to $4,300 amid a softer market mood.
DisClamier: This content is informational and should not be considered financial advice. The views expressed in this article may include the author's personal opinions and do not reflect The Crypto Basic opinion. Readers are encouraged to do thorough research before making any investment decisions. The Crypto Basic is not responsible for any financial losses.
