Strategy Chairman Michael Saylor has announced the purchase of additional Bitcoin (BTC). The latest purchase, however, comes with a major twist. Still, it demonstrates the firm’s confidence in the potential of the leading coin.
Strategy buys 525 Bitcoin
Saylor disclosed in an X post that Strategy has acquired 525 BTC, valued at approximately $60.2 million. Per the transaction details, the firm purchased the new BTC at about $114,562 per coin.
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Accordingly, Strategy has achieved a BTC yield of 25.9% year-to-date (YTD). Saylor added that the firm now holds a total of 638,985 BTC on its balance sheet. These coins were acquired for approximately $47.23 billion at about $73,913 per BTC.
This recent BTC acquisition indicates that Strategy is still confident about the future price trajectory of the leading coin. However, the major twist is that the 525 BTC acquisition is relatively smaller than what Strategy is generally known for.
Michael Saylor not giving up on Bitcoin
This reduced BTC accumulation comes amid recent criticism of the firm. For instance, angel investor Jason Calacanis urged investors to stay as far away as possible from Strategy.
Rather, Calacanis advised investors to simply invest directly in Bitcoin. He argued that Saylor’s aggressive BTC accumulation is actually damaging for the Bitcoin brand.
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His comments come shortly after Strategy failed to make it on the flagship S&P 500 index, despite meeting various criteria. In just a few hours after the news, shares of Strategy (MSTR) plunged as low as 2%.
JPMorgan analysts even highlighted the non-inclusion on the S&P 500 as a major setback for the company.
Despite these challenges, the recent BTC accumulation shows that Saylor is not giving up on Bitcoin. The BTC evangelist recently tweeted an image of the latest iPhone 17 Pro in the color orange, traditionally associated by Bitcoiners with BTC.
Source: https://u.today/michael-saylors-strategy-expands-bitcoin-holdings-with-one-big-twist