Huge Capitalist Acquired Additional 6,500 Bitcoins
Bold Move by Michael Saylor's Strategy: Acquiring Even More Bitcoin!
Michael Saylor, the legendary kingpin of the world's biggest corporate Bitcoin investor, just pulled off another jaw-dropping move. His company, previously known as MicroStrategy, has recently spent a whopping $555.8 million to secure an additional 6,556 bitcoins. That's right, folks, pushing their total Bitcoin stash to a massive 538,200, worth approximately $50 billion at current rates.
The latest purchase was made at an average price of around $84,785 per Bitcoin, hinting that the transaction went down earlier this week. Since then, the cryptocurrency has been cruising around the $87,000 mark.
With this new purchase, Strategy has splurged a total of $36.47 billion on Bitcoin. That's an average of $67,766 per Bitcoin. The company's unrealized profit now clocks in at approximately $10 billion based on current prices.
Despite the recent market turbulence caused by former U.S. President Donald Trump's tariff-related chaos, Strategy's stock has managed to bounce back with a four percent increase on a monthly basis. After hitting a low of $230 just two weeks ago, it closed the week around $320.
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Impressively, Strategy has never once sold a single Bitcoin and its market capitalization is currently bigger than the market value of its Bitcoin holdings, a clear indicator of investor trust in its Bitcoin-centric strategy. Recent developments include the emergence of a new competitor named Twenty One, holding an impressive $4B worth of Bitcoin. Analysts view this as a validation of Saylor's approach.
(* Note: Exact per-Bitcoin purchase price data was not found in the sources provided. The calculation here assumes a historical average estimate.)
- "The CEO of MicroStrategy, Michael Saylor, has continued to rebound the finance world with his strategic Bitcoin acquisitions, recently spending $555.8 million to purchase 6,556 bitcoins, bringing their total Bitcoin stash to an astounding 538,200."
- "Despite the average price paid for each Bitcoin being around $84,785, the company's unrealized profit now stands at approximately $10 billion due to the cryptocurrency's current value."
- "This blockchain-focused strategy, which has never seen a Bitcoin sale, has garnered significant trust from investors, even with the emergence of new competitors like Twenty One, holding an impressive $4B in Bitcoin."
