Strategy MSTR, a major institutional holder of Bitcoin BTC/USD, expanded its crypto reserves this week with a fresh purchase of 6,220 BTC.

The acquisition, disclosed in a July 21 SEC filing, was made over a six-day period and cost the firm $739.8 million in cash. The company paid an average of $118,940 per coin.

With this addition, Strategy now holds a total of 607,770 BTC, purchased for approximately $43.61 billion.

The company last made headlines on July 14 when it acquired 4,225 BTC for $472.5 million also financed by cash reserves and proceeds from a February convertible note issuance.

According to internal figures shared by Executive Chairman Michael Saylor, Strategy's Bitcoin holdings are now valued at around $71 billion.

This puts the firm's digital asset stack among the top 10 largest cash-equivalent holdings of any S&P 500 company, just behind General Motors’ $89 billion and ahead of ExxonMobil's $67 billion.

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Saylor has consistently championed Bitcoin as a better long-term store of value than traditional fiat or U.S. Treasuries.

The firm has committed to regular BTC purchases, typically announcing them on Mondays, with funding coming from operating cash, share sales, and convertible debt.

Strategy's Bitcoin-focused treasury approach has influenced other public companies to follow suit.

As of now, 141 corporations are reported to hold some form of BTC on their balance sheets.

These include Marathon Digital Holdings MARA, Riot Platforms RIOT, Twenty One, and Metaplanet MTPLF. Despite this growing list, Strategy remains the largest corporate Bitcoin holder, with nearly 3% of the cryptocurrency's total capped supply of 21 million.

TD Cowen recently raised its price target for Strategy stock from $590 to $680, citing bullish Bitcoin price forecasts.

The investment bank expects Bitcoin to reach $155,000 by the end of 2025.

Following the news of its latest purchase, Strategy's stock rose nearly 2% in pre-market trading, hovering around $429 per share, while Bitcoin remained relatively stable at approximately $118,670.

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