Bucking its usual trend, Strategy (formerly known as MicroStrategy) bought an additional 4,020 Bitcoin today on May 26. The firm has spent $427.1 million for its latest purchase at an average price of $106,237 each. By doing this, the company reaffirms its belief in Bitcoin and its ongoing use as a treasury reserve asset.
According to the official release, Strategy is now holding 580,250 BTC that were purchased for $40.61 billion at an average bitcoin price of $69,979. Till date, the company has managed to achieve a yield of 16.8% on its Bitcoin holding, proving the value of its strategy focused on Bitcoin even as the market rapidly changed.
With this purchase, Strategy continues to guide financial institutions into Bitcoin adoption and make their treasury policy align with how the digital asset is doing worldwide.
Why Does Michael Saylor Buy Bitcoin on Monday Only?
Michael Saylor, the Executive Chairman of Strategy, has garnered attention for his strategic Bitcoin purchases, which are often announced on Mondays. This pattern appears intentional with Saylor announcing the firm’s Bitcoin purchases ahead of the weekly openings, supposedly to influence week’s market sentiment positively.
By revealing his Bitcoin acquisitions early in the week, Saylor aims to boost confidence among investors while leveraging the fresh momentum of market openings. This approach reinforces Saylor’s bullish stance, as he recently said, “I only buy Bitcoin with money I can’t afford to lose,” signaling unwavering conviction to his 4.3 million followers.
Also Read: Robert Kiyosaki: Even 0.01 BTC Could Make You Rich by 2027
