This latest buy brought its total holdings to 607,770 BTC valued at over $72 billion. Despite a slight slowdown in monthly acquisitions compared to previous months, Strategy is still the largest public holder of Bitcoin. Its Bitcoin yield also rose to 20.8% after this latest purchase. Meanwhile, in stark contrast, the UK government is preparing to sell over £5 billion ($6.7 billion) worth of seized Bitcoin to help close a national budget deficit. The crypto was mostly confiscated from a Chinese Ponzi scheme, and is currently the subject of legal disputes involving victims and Chinese authorities. Critics argue the sale is premature and could actually harm the UK’s long-term crypto strategy.
Strategy Invests $739 Million in Bitcoin
Michael Saylor’s Strategy continued its aggressive Bitcoin accumulation strategy by confirming the purchase of 6,220 BTC for $739.8 million last week. The acquisition was disclosed in a US Securities and Exchange Commission (SEC) filing, and was made at an average price of $118,940 per coin.
This move came as Bitcoin briefly surged past $122,000 on July 14 before pulling back to around $118,000. The purchase increased Strategy’s total Bitcoin holdings to 607,770 BTC, acquired at an average price of $71,756, with a total investment now standing at approximately $43.6 billion.
As a result of the latest acquisition, Strategy’s year-to-date Bitcoin yield increased to 20.8%, up from 20.2% last week. The company’s Bitcoin yield metric was introduced in August of 2024, and it measures the percentage change in the ratio between its BTC holdings and assumed diluted shares outstanding. The current yield stands just 4.2% short of its 25% target. Strategy’s Bitcoin yield once peaked at 74.3% in 2024.
Meanwhile, Strategy’s internal financial activities have also drawn some attention from the crypto community. Senior executive vice president Wei-Ming Shao filed to sell another 10,900 shares of Strategy (MSTR) on July 14, generating roughly $4.9 million. This sale happened after a $25.7 million share offload by the same executive just the previous week.
Strategy Bitcoin buys (Source: SaylorTracker)
In terms of accumulation pace, Strategy’s July Bitcoin purchases so far total 10,455 BTC, down from 17,075 in June, 26,695 in May, and 25,370 in April. Despite the slower monthly accumulation rate, the firm is still the largest public holder of Bitcoin.
UK Plans to Sell Seized Bitcoin
While Strategy is showing no signs of slowing down its Bitcoin accumulation mission, the United Kingdom is reportedly preparing to sell more than £5 billion ($6.7 billion) worth of seized Bitcoin to address its budget deficit, according to The Telegraph.
The effort is being coordinated by the Home Office and Treasury Chief Rachel Reeves, in collaboration with law enforcement. While UK police typically handle crypto sales, the Treasury’s involvement is likely due to the scale of the holdings and their potential impact on national finances as Bitcoin’s value recently surged.
The government is developing a secure system to store the crypto ahead of the proposed liquidation. Among the seized assets is at least 61,000 Bitcoin—which is currently worth around $7.1 billion—originally confiscated from a Chinese Ponzi scheme in 2018. The stash came to light after Jian Wen, a hospitality worker, tried to launder funds from the scheme by purchasing luxury property. She was later convicted of money laundering and sentenced to over six years in prison in May of 2024.
However, the sale of the Bitcoin is legally contested, as Chinese authorities and victims of the scheme demand its return. Susie Violet Ward, CEO of Bitcoin Policy UK, criticized the idea of a sale as premature, especially due to the ongoing legal disputes. The Crown Prosecution Service asked the High Court for permission to retain the assets, which would allow the proceeds to be distributed under the Proceeds of Crime Act—potentially compensating victims and funding police agencies involved in the case.
Photo of the property that Wen tried to purchase
Freddie New, head of policy at Bitcoin Policy UK, pointed out that victims originally lost yuan rather than Bitcoin, which complicates efforts to return the assets. He explained that any sale would be subject to court-ordered compensation, and the remaining proceeds would potentially go to the Treasury and other recovery bodies. Earlier this year, the UK government also issued a £40 million tender for a crypto asset management framework, but it was later canceled due to inadequate bids.
Despite legal and diplomatic complexities, the UK government seems very eager to liquidate its holdings. Critics argue the move is shortsighted. Jordan Walker of the Bitcoin Collective urged the government not to sell the Bitcoin, and warned that it could damage the UK’s long-term economic positioning. Bitcoin Policy UK also appealed to lawmakers in July of 2024 to consider amending laws to allow the country to keep valuable digital assets, though the request was reportedly ignored.
