Michael Saylor’s Strategy Adds 390 BTC to Holdings as Bitcoin Surges Past $115k

Michael Saylor’s treasury firm Strategy has made another weekly purchase as it continues to expand its BTC treasury. This comes as Bitcoin’s price continues its upward momentum amid the crypto market’s recovery.

Strategy Extends Bitcoin Buying Spree In Fresh Purchase

In a recent press release, the firm confirmed it had made another major Bitcoin acquisition. This strengthens its position as the world’s largest corporate holder of BTC. The company revealed it had purchased 390 BTC, worth $43 million, at an average price of $114,562 per coin.

With this latest buy, the firm’s total holdings now stand at 640,808 BTC, valued at roughly $47.44 billion, acquired at an average cost of $74,032 per Bitcoin. The company also reported a BTC yield of 26% year-to-date (YTD).

This comes after Michael Saylor’s trademark hint on X just yesterday. He shared Strategy’s Bitcoin portfolio tracker, captioning it, “It’s Orange Dot Day.”

Interestingly, the company’s latest purchase did not rely on selling its own MSTR shares. According to an SEC filing, Strategy instead raised capital by selling other share classes, STRF, STRK, and STRD, generating a combined $44.7 million in liquidity.

This marks the third consecutive weekly Bitcoin purchase following a brief pause earlier in the month. As previously reported, Strategy added 168 BTC for $18.8 million between October 20 and 26.

The firm’s stock performance has also maintained its momentum. According to TradingView data, MSTR is up almost 2%, trading close to $289. Bitcoin has continued to rise, reaching $116,000 in the meantime. It has now been in the green for three days in a row.

Source: TradingView; MSTR Daily Chart

Crypto Market Braces For Key Economic Week

This purchase comes as the crypto market prepares for an important week. The FOMC meeting on October 28-29 could shift investor sentiment, depending on what the Federal Reserve decides on interest rates.

Notably, traders have priced in two additional Fed rate cuts this year, one at the upcoming FOMC meeting and another in December.

Furthermore, the upcoming U.S.–China meeting between President Donald Trump and President Xi Jinping on Thursday could redefine global trade sentiment. U.S. Treasury Secretary Scott Bessent shared that they had made progress with China on negotiations over the Trump Tariffs. The two countries met over the weekend in Malaysia in preparation for the major meeting slated for October 30.

Adding to the market’s anticipation, major tech companies are set to report earnings this week. Collectively representing nearly a quarter of the S&P 500 Index, their performance could either validate or weaken the current risk-on sentiment.

Source: https://coingape.com/michael-saylors-strategy-adds-390-btc-to-holdings-as-bitcoin-surges-past-115k/