Strategy Bags $26M in Bitcoin After $1B Purchase Last Week
MicroStrategy Expands Bitcoin Holdings Amid Market Volatility
Recent Bitcoin Acquisitions by MicroStrategy
MicroStrategy, led by Michael Saylor, has revealed its latest Bitcoin purchases as the cryptocurrency faced downward pressure due to rising geopolitical tensions last week. The company acquired 245 BTC for a total of $26 million during the week ending Sunday, as disclosed in a filing with the U.S. Securities and Exchange Commission.
The average purchase price for this latest batch of Bitcoin was approximately $105,856 per coin. This acquisition comes as Bitcoin’s value dropped from around $108,900 on June 16 to an intraweek low of just under $99,000, according to data from CoinGecko.
A Strategic Approach to Bitcoin Investment
MicroStrategy’s recent purchases, including a significant $1 billion Bitcoin acquisition, have increased the firm’s total holdings to 592,345 BTC, which were acquired for roughly $41.9 billion at an average price of $70,681 per coin.
Interestingly, this latest purchase marks one of the company’s smallest transactions in recent months, with the last comparable buy occurring in March when it acquired 130 BTC for $10.7 million. Observers have raised questions about why the company opted for a smaller purchase during a price dip, suggesting that it could have capitalized on lower prices.
Commitment to Long-Term Bitcoin Accumulation
MicroStrategy’s strategy of acquiring larger amounts of Bitcoin at higher prices aligns with Saylor’s philosophy of “buying the top forever.” In late 2024, Saylor committed to continuing Bitcoin purchases at peak prices, regardless of how high they might rise. He even expressed confidence in buying Bitcoin at $1 million per coin, potentially investing $1 billion daily at that price.
Year-to-Date Bitcoin Yield Performance
Following its latest acquisitions, MicroStrategy has maintained a year-to-date Bitcoin yield of 19.2%, which reflects the percentage increase in the value of its Bitcoin holdings over a specific timeframe. This yield is just slightly above the previous yield reported after the $1 billion Bitcoin purchase on June 16.
The recent surge in yield brings MicroStrategy closer to its ambitious target of achieving a 25% yield by the end of 2025, an increase from its earlier goal of 15%, which was revised on May 1.
Shortly after announcing its latest Bitcoin purchases, Saylor also raised his long-term price prediction for the cryptocurrency, forecasting that Bitcoin could reach $21 million within the next 21 years.
