Bitcoin's price climbed above $106,000 on Monday as Strategy, the world's largest corporate holder of Bitcoin, announced its latest acquisition of 487 BTC for approximately $49.9 million. According to an SEC filing, the purchases were made between November 3 and November 9 at an average price of $102,557 per Bitcoin, inclusive of fees and expenses. The business intelligence firm's total Bitcoin holdings have now reached 641,692 BTC, acquired for an aggregate purchase price of $47.54 billion at an average price of $74,079 per Bitcoin.
Bitcoin treasury companies have become one of the most important demand drivers in this cycle. Collectively, 86 publicly traded firms now hold more than 1 million BTC on their balance sheets. What began with MSTR (Strategy) in 2020 has since spread across the corporate landscape, with new entrants joining seemingly every week. But a closer look at their purchase history reveals a surprising insight that many of these companies could be holding considerably more Bitcoin today if they had followed a simple, rules-based strategy for accumulation.