Michael Saylor's Latest Bitcoin Buy Is Strategy's Smallest in Months
Michael Saylor's Strategy (formerly MicroStrategy) announced its latest Bitcoin purchase, acquiring 155 BTC for $18 million. This marks the smallest transaction since March for the company, which currently holds 628,946 BTC valued at over $75.5 billion. Despite a significant buying history, including purchases that exceeded $2 billion, this recent acquisition on the five-year anniversary of its first Bitcoin buy is notably modest. The company, which has largely focused on securing Bitcoin as a hedge against inflation, has reported a yearly yield of 25% on its holdings. With Bitcoin currently trading around $120,095, Saylor emphasizes the firm’s commitment to increasing its Bitcoin assets through debt financing. Overall, Strategy's stock prices have surged over 2,700% since it began purchasing Bitcoin, highlighting the significant impact of its expansive strategy in cryptocurrency investments.
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