 
 
Michael Saylor’s BTC buying spree shows no sign of letting up. After several weeks of underwhelming announcements, Saylor’s business data analytics firm turned BTC vessel, announced a huge Bitcoin buy on Monday as it continued its aggressive approach to BTC accumulation despite more challenging conditions for crypto markets.
Meanwhile, the price of Bitcoin remains in bearish territory after a bruising weekend. Could Strategy’s purchase push BTC higher?
Strategy Resumes Massive Bitcoin Splurges
Strategy, the Bitcoin treasury company founded by Michael Saylor, is back to making large purchases of the world’s oldest and largest cryptocurrency.
The Tysons, Virginia-based company acquired an additional 8,178 BTC between November 10 and November 16. The latest batch of tokens was bought for a total of $835.6 million, pushing Strategy’s total BTC outlay to date to $48.37 billion, while the coins are currently valued at around $61.3 billion. Specifically, Strategy now owns roughly 649,870 Bitcoin, or more than 3% of the crypto’s total 21 million supply.
Strategy remains the world’s largest crypto treasury company and the pioneer of a strategy adopted by over 200 other publicly listed companies.
 
The latest Bitcoin purchase followed a 487 BTC buy for $49.9 million the previous week, which came as BTC was trading hands at $105,085 while it struggled to recover from the Oct. 10 market crash.
Strategy Isn’t Selling Bitcoin
Originally, the Saylor-founded company financed its Bitcoin-buying spree with cash on hand, but it has since shifted to a combination of issuing new shares and taking on billions in new debt.
According to the Monday filing, the latest sizable Bitcoin purchase was financed mostly through the $715 million issuance of the company’s first euro-denominated preferred stock offering, STRE, or Steam, which brought Strategy’s high yields to European investors.
As ZyCrypto reported, Saylor recently rebutted rumors that the company sold 47,000 BTC, stressing it was purchasing aggressively. The speculation arose from a Walter Bloomberg X post citing Arkham data, which the blockchain sleuth later clarified likely indicated routine wallet and custodian rotations rather than sales.
The wider crypto market downturn saw Bitcoin fall to as low as $92,580 over the weekend. The apex crypto is currently trading hands at $92k, down 1.2% over the last 24 hours according to CoinGecko data.