Michael Saylor is back at it, and this time, he has taken Strategy ($MSTR) into uncharted territory. The company has officially become the first public firm to buy over half a million Bitcoin, cementing its status as the ultimate corporate BTC whale.
On March 24, Strategy (earlier MicroStrategy) announced that between March 17 and March 23, it purchased 6,911 BTC for around $584.1 million at an average price of $84,529 per Bitcoin. With this, the company now holds a jaw-dropping 506,137 BTC, bought for approximately $33.7 billion at an average price of $66,608 per coin.
To finance this latest Bitcoin buy, MicroStrategy offloaded 1.97 million MSTR shares, bringing in $592.6 million. The company also sold 13,100 STRK shares, adding another $1.1 million to its funds. Even after these transactions, it still has about $3.57 billion worth of MSTR shares and $20.99 billion in STRK shares ready to be sold if needed.
This move comes after Saylor was questioned for making a seemingly “small” 130 BTC purchase earlier. Some in the crypto space wondered if his appetite for Bitcoin was slowing down. Well, he just answered in the most Saylor way possible—by making another record-breaking purchase.
At this point, one thing is clear: Michael Saylor isn’t just betting on Bitcoin. He’s all in.
Also Read: How many Bitcoins does Michael Saylor’s Strategy hold?
