Michael Saylor is doubling down on Bitcoin—again. The Strategy CEO just scooped up another 130 Bitcoin for a cool $10.7 million, paying about $82,981 per coin. Not exactly bargain hunting, is he?
This latest purchase pushes Strategy’s Bitcoin holdings to a staggering 499,226 BTC, worth approximately $33.1 billion. The company, formerly known as MicroStrategy, has transformed itself into the world’s largest corporate Bitcoin holder. And Saylor isn’t showing any signs of slowing down.
To fund these crypto shopping sprees, Strategy has been getting creative with financing. They recently sold 123,000 shares of perpetually preferred stock and plan to offer 5 million additional shares. This funding approach is part of a larger $21 billion offering with nearly $21 billion still available for future acquisitions. These new shares will come with a 10% annual dividend starting mid-2025. Clever way to raise cash without selling the Bitcoin stash.
Strategy’s creative financing fuels its Bitcoin obsession without touching the digital gold reserves they’ve accumulated.
What makes this purchase interesting is its relatively small size. It’s actually Strategy’s smallest Bitcoin buy since their Bitcoin adventure began in 2020. Their previous acquisition was 169 BTC back in August. The timing is curious too—buying near all-time high prices when Bitcoin has been struggling recently.
Despite market turbulence, Strategy remains in the green overall. Their unrealized gains exceed $8 billion. Not too shabby for a company that basically converted its treasury into magic internet money. Saylor’s accumulation represents a significant portion of the approximately 19.83 million BTC currently in circulation.
Critics like Peter Schiff have been vocal about Saylor’s all-in approach. They’re questioning the wisdom of continuing to buy as prices wobble. Fair point. Bitcoin needs to stabilize and push past resistance levels for Saylor’s strategy to maintain investor confidence.
The future of Strategy’s Bitcoin purchases will likely depend on market conditions. If prices recover and break above $90,000, expect more buying. If not, even Saylor might pump the brakes a bit. This comes as Bitcoin currently trades at around $83,000, showing some recovery from recent lows.
One thing’s certain: Saylor views Bitcoin as the ultimate store of value. He’s not day-trading—he’s accumulating. And he’s betting big that institutions will eventually follow his lead.
