- MicroStrategy bought 15,350 BTC for US$1.5B at US$103,386 per BTC, pushing total holdings to 439,000 BTC worth over US$44B.
- Despite criticism, Michael Saylor insists that “every day is a good day to buy Bitcoin”.
- MicroStrategy’s BTC strategy boosted quarterly returns to 46.4%, leading to its inclusion in the Nasdaq 100.
MicroStrategy’s (MSTR) co-founder and executive chairman, Michael Saylor, has once again added to the company’s Bitcoin (BTC) holdings, marking the first time it purchased BTC as its price hits over US$100K (AU$155K).
In a post on X, Saylor revealed that the firm acquired 15,350 BTC for approximately US$1.5B (AU$ 2.35B) at an average price of US$103,386 per Bitcoin (AU$161,630). This latest purchase brings MicroStrategy’s total holdings to 439,000 BTC, currently valued at over US$44B (AU$69B).
Related: Axelar Co-founder Says RLUSD Stablecoin Will Boost Demand for XRP
MicroStrategy has invested US$27.1B (AU$42B) in amassing its Bitcoin holdings at an average price of US$61,725 (AU$96.8K) per BTC. This purchase comes shortly after the company added 21,550 BTC, pushing its holdings to US$42 billion at that time. And this was less than two weeks ago…
MicroStrategy Marches On
MicroStrategy’s commitment to accumulating Bitcoin has drawn criticism along the way. For instance, Peter Schiff —Bitcoin’s number one hater— argued that Bitcoin’s price will plummet if the company stops purchasing or is forced to sell:
Just as I suspected. Imagine how much lower the Bitcoin price will fall when you stop buying. Then imagine how much lower it will go when creditors force you to sell.
Peter SchiffAnd what is Saylor’s and MicroStrategy’s reason? Well, quite simple, as he told CNBC’s Money Movers:
We’ll just keep buying the top forever, every day is a good day to buy bitcoin
Michael SaylorBut Michael Saylor always has an answer for everyone, including those who called the firm’s BTC buying spree a Ponzi scheme:
Criticism aside, MicroStrategy’s persistent BTC purchases continue to drive momentum for both the company and Bitcoin itself. The company recently entered the Nasdaq 100, a major milestone predicted by Bernstein analysts. This could potentially boost the MSTR stock, meaning more institutional investors could add the stock to align their portfolios to the index.
Related: Ethereum Poised for New All-Time High in Q1, Says Analyst
The company reported a Bitcoin yield of 46.4% for the quarter and 72.4% year-to-date. Its strategy of large-scale BTC acquisitions, often exceeding US$1 billion and typically revealed on Mondays, is so central to its operations that investors often question what the company is about.
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