Michael Saylor’s MicroStrategy has made another Bitcoin purchase, bringing the software company’s total holdings to 531,644 BTC. The MSTR stock has also rebounded amid this announcement, surging alongside the Bitcoin price.
Michael Saylor’s MicroStrategy Acquires 3,459 Bitcoin
In a press release, Michael Saylor’s MicroStrategy, now known as Strategy, announced that it acquired 3,459 bitcoin for $285.8 million at an average price of $82,618 per BTC. The company also achieved a BTC yield of 11.4% year-to-date (YTD) in the process.
This announcement comes just a day after Michael Saylor hinted at the company buying Bitcoin last week. Following this latest purchase, Strategy now holds 531,644 BTC, which it acquired for $35.92 billion at an average price of $67,556 per Bitcoin.
The software company remains the public company with the largest Bitcoin holdings, well ahead of MARA holdings. The recent purchase is a positive for BTC, especially considering that Strategy halted its Bitcoin purchase two weeks ago, which raised concerns about whether Saylor’s firm was choosing to wait on the sidelines amid the market downtrend.
However, MicroStrategy still has the capital to acquire more Bitcoin in the foreseeable future, which is bullish for the Bitcoin price. This year, the company has announced plans to raise almost $22 billion through stock sales to acquire more Bitcoin.
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