Strategy’s Bitcoin Holdings Surpass 607,000 Tokens Amid Regulatory Progress In The US

Strategy (previously MicroStrategy), the world’s largest corporate holder of Bitcoin (BTC), announced on Monday that it had acquired an additional 6,220 BTC during the week spanning July 14 to July 20. 

This latest purchase brings the company’s total Bitcoin holdings to an impressive 607,770 tokens, acquired at an aggregate cost of approximately $43.61 billion, averaging $71,756 per Bitcoin.

This announcement coincided with a breakthrough in the regulatory landscape for cryptocurrencies, as the GENIUS Act successfully cleared the House and received final approval from President Donald Trump on Friday. 

The new stablecoin legislation establishes federal guidelines for stablecoins. The passage of the GENIUS Act has provided a boost to cryptocurrency exchanges like Coinbase Global (COIN) and Robinhood Markets (HOOD), which saw their stock prices rise by 2.2% and 4.1%, respectively, following the news.

Despite the favorable regulatory environment, Strategy’s stock did not experience a similar surge. Instead, it fell by 7.2% over the course of Thursday and Friday, marking the company’s worst two-day performance since late May. 

This decline mirrored the overall dip in Bitcoin prices, which had recently retreated toward the $117,000 zone from record highs above $123,000 earlier in the past week.

Reports note that the stock’s performance may have been impacted by a bearish research note from Gus Gala, an analyst at Monness, Crespi, Hardt, who reiterated a Sell rating on Strategy shares with a target price of $200. 

Notably, Gala is the only analyst among 17 surveyed by FactSet to rate the Strategy’s stock as a Sell, which could contribute to investor caution.

Amid these fluctuations, Strategy’s Chairman Michael Saylor remains a vocal advocate for the company’s Bitcoin strategy. In a recent post on social media site X (formerly Twitter), he encouraged followers to “Stay Humble. Stack Sats,” referring to Satoshis, the smallest unit of Bitcoin, emphasizing a long-term commitment to accumulating the cryptocurrency.

As the market continues to adapt to shifting regulations, crypto supporters are eagerly awaiting the next legislative development: the CLARITY Act. 

This bill, which passed the House with a vote of 294-134, aims to create a clearer regulatory framework for digital assets by distinguishing between securities and commodities and delineating oversight responsibilities among various federal agencies.

When writing, the market’s leading cryptocurrency trades at $117,500, recording a 14% price surge in the monthly time frame, and nearly 74% year-to-date. With the recent price correction, the Bitcoin price is now 4% below its current all-time high achieved during last week’s rally. 

Featured image from DALL-E, chart from TradingView.com