Michael Saylor’s Strategy Expands Bitcoin Holdings with $100M Purchase
- Michael Saylor’s firm acquired 1,587 BTC for $100 million.
- Total Bitcoin reserve now stands at 846,842 BTC, valued over $50 billion.
- The latest purchase was made at an average cost of $63,024 per BTC.
- The company also increased its USD reserve to $1.1 billion, up by $100 million.
- Following the announcement, MSTR stock surged approximately 7%.
This acquisition marks the second consecutive week of purchases by Saylor’s firm, which had previously bought nearly $101 million in Bitcoin last week. The increase in both Bitcoin and USD reserves indicates a strategic move towards supporting dividend payments tied to preferred stock.
With the recent buy of 1,587 BTC, the total reserve has reached 846,842 BTC, underscoring the firm’s aggressive investment strategy in cryptocurrency. (Source)
