Michael Saylor kept his latest update short as the Strategy co-founder posted an AI photo of himself riding a bright orange scooter and wrote just two words: “Bitcoin delivers.” This new message came as the company’s Bitcoin holdings reached new heights in both size and value.
And this figure may increase further, if the usual Monday announcement hits the press tomorrow.
You Might Also Like
For now, according to filings, Saylor-led Strategy holds 629,376 BTC, to buy which it spent about $46 billion, averaging $73,320 per Bitcoin. At current levels, the stash is valued at $72.24 billion, putting the company more than 56% on paper.
Not to forget that Strategy is a public company and trades under the ticker MSTR with a $98 billion market capitalization, of which Bitcoin accounts for roughly 74%. Still, the enterprise value is listed at $115 billion, and its stock recently traded at around $344.
Strategy’s Bitcoin and MSTR business
As all eyes are on Monday, let’s remember that on Aug. 11, Strategy disclosed the purchase of 155 BTC. Then, on Aug. 18, the software provider purchased another 430 BTC.
You Might Also Like
Insider trading reports meanwhile show busy activity around the MSTR stock. Over the last three months, there have been 31 transactions: 13 open-market purchases and 18 sales. Over the last year, insiders have executed a total of 69 trades, buying 286,132 shares and selling 474,471.
Source: https://u.today/what-does-bitcoin-do-strategys-saylor-answers-with-just-2-words