Michael Saylor-led business intelligence firm Strategy, the world’s largest publicly traded Bitcoin holder, has added another 6,220 Bitcoins to its reserves. According to a US Securities and Exchange Commission filing on Monday, the latest purchase was completed during the week ending July 20, at an average price of $118,940 per coin.
The acquisition cost a total of approximately $739.8 million and was made in the week when Bitcoin’s price briefly touched $122,800 before retreating to an intraweek low near $116,000, eventually stabilizing around $118,000, according to CoinGecko data.
US firms, Strategy and Trump Media, stack up more BTC
Strategy now holds 607,770 Bitcoins after its latest purchase, valued at approximately $72 billion based on current prices. The company’s total acquisition cost is $43.6 billion, with an average purchase price of $71,756 per coin. It also reported that its year-to-date (YTD) Bitcoin yield rose from 20.2% to 20.8%, much closer to its internal target of 25%.
Another US firm Trump Media and Technology Group Corp. (TMTG), the company behind Truth Social, streaming service Truth+, and financial technology platform Truth.Fi, announced today that it had accumulated roughly $2 billion in Bitcoin and related securities. The investments account for about two-thirds of its $3 billion in liquid assets.
The firm also revealed that an additional $300 million has been committed to an options acquisition strategy for Bitcoin-related securities.
In its press statement, Trump Media mentioned that it may convert these options into spot Bitcoin holdings, pending the state of the market and the asset’s price.
“We’re rigorously implementing our publicly announced strategy and fulfilling our bitcoin treasury plan,” CEO Devin Nunes stated. “These assets help ensure our company’s financial freedom and will create synergies with the utility token we’re planning to introduce across the Truth Social ecosphere.”
French companies add more coins to Bitcoin treasuries
Sequans Communications S.A. a French-based cellular IoT and semiconductor company, also disclosed a fresh addition to its Bitcoin holdings. The company acquired 1,264 Bitcoins for approximately $150 million at an average cost of $118,659 per coin, including transaction fees.
As of July 18, Sequans’ total Bitcoin holdings stood at 2,317 BTC, acquired at a cumulative cost of $270 million. The average purchase price for its entire reserve is $116,493 per Bitcoin.
Another firm in France, Paris-based The Blockchain Group, acquired 22 Bitcoins for around €2.2 million ($2.5 million), pushing its total reserves to 1,955 BTC, valued at approximately €177 million ($206 million). The company said the acquisition followed the completion of a capital increase program in collaboration with French asset manager TOBAM.
The program raised about €1.1 million through the issuance of new shares at €3.95 per share. These proceeds were used to purchase 10 BTC. Moreover, the conversion of BSA 2025-01 warrants into 2,274,754 ordinary shares financed the acquisition of 12 more Bitcoins.
According to company disclosures, The Blockchain Group has realized a year-to-date BTC yield of 1,373.2%, resulting in gains of 549.3 BTC and €55.5 million.
Profusa launches Bitcoin treasury program
In other news, biomedicine and digital health company Profusa, Inc. will be launching a Bitcoin treasury strategy. The company entered into a Securities Purchase Agreement with Ascent Partners Fund LLC, in which the latter will purchase up to $100 million of Profusa’s common stock under an equity line of credit (ELOC).
All net proceeds from the ELOC, provided Profusa keeps a cash balance above $5 million at the time of transaction, will be used to acquire Bitcoin. Should the company’s balance fall below that threshold, the proceeds will first be used to replenish reserves before any Bitcoin purchases are made.
The shares will be sold at a price equal to 97% of the lowest volume-weighted average price over the five trading days following each put. The size of each put will be capped at $5 million or 100% of the average daily trading volume for the five trading days prior to each put.
Profusa will issue cashless warrants to Ascent to purchase 900,000 shares at an exercise price of $0.01 per share. The ELOC is subject to customary closing conditions and will be capped at 19.9% of the company’s total outstanding shares unless shareholder approval is obtained.
“Holding Bitcoin on our balance sheet represents a strategic move to safeguard shareholder value and align with a digital future,” CEO Ben Hwang told reporters in a briefing earlier today.
Profusa expects to begin purchasing Bitcoin within the week, and will disclose its holdings in quarterly financial reports moving forward.
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