Michael Saylor’s Strategy Buys $255M Bitcoin In BTC Acquisition Spree

Michael Saylor’s Strategy has acquired another $255 million worth of Bitcoin (BTC) on Monday, April 27. It marks the fourth consecutive BTC buying initiative this month.

Michael Saylor’s Strategy Buys Another $255M In Bitcoin

According to Michael Saylor’s post on X, the company bought 3,273 BTC for $255 million. The latest purcahse was made at an average price of $77,906 per Bitcoin. Although the acquisition is notable, the scale has reduced significantly compared to the $2.54 billion Bitcoin buy last Monday.

Meanwhile, it’s worth noting that Strategy has achieved a BTC Yield of 9.6% in the year-to-date timeframe. As of April 26, the company holds 818,334 BTC, per the latest disclosure. The stack was acquired for $61.81 billion at an average price of $75,537 per BTC.

The Bitcoin treasury firm still maintains a lead against BlackRock, which holds 812,276 BTC in its IBIT ETF, per crypto tools for onchain tracking. However, the downscale in Strategy’s Bitcoin buying could be attributed to the STRC not raking in any proceeds last week. At the time, the team’s post on X revealed that it was a “quiet” week for STRC and questioned whether Michael Saylor would continue his BTC purcahse spree.

After the announcement, the MSTR stock saw a slight uptick of 0.55% to $171.96 in the pre-market trading session today. Earlier, on Sunday, April 26, Saylor hinted at buying more Bitcoin with a post on social media with the popular ‘Orange Dots’ chart.

BTC Price Update Today

Bitcoin remained resilient around the $77,700 level today. At press time, BTC price hovered around $77,786.53, down by 0.28% on Monday. Meanwhile, analysts are expecting a future rally to the $150K-200K range as Bitcoin has “hit the ultimate accumulation trigger in this cycle” amid Strategy’s acquisition.

Michaël van de Poppe, a popular crypto analyst, spotlighted that “previous cycles, these levels were hit at the actual bear market bottoms.” These include:

• After 2018: +400% in 2 years
• After 2020: +1300% in 2 years
• After 2022: +400% in 2 years

He added, “It’s very likely that we’ll be having the same pattern repeat during this cycle, however, at the actual moment of the opportunity, nobody seems to be interested in the asset.”