Michael Saylor’s Strategy (formerly MicroStrategy) has done it again. The company has just completed its seventh consecutive weekly Bitcoin purchase. This move comes as both BTC and the company’s stock (MSTR) experience a slight downturn.
The Details of the Latest Purchase
According to a press release, Strategy acquired 525 BTC for approximately $60.2 million. The average price per coin was $114,562.
This purchase further solidifies the company’s massive position. Strategy now holds a staggering 638,985 BTC. The total cost for this hoard was $47.23 billion, with an average purchase price of $73,913 per Bitcoin. This represents a yield of nearly 26% on their initial investment.
The buy aligns perfectly with Michael Saylor’s recent social media activity. Just a day before the announcement, he posted, “Bitcoin deserves credit,” while highlighting the company’s portfolio tracker.
How Did They Fund the Purchase?
Interestingly, the company did not sell any MSTR shares to fund this acquisition. Instead, an SEC filing shows they raised capital by selling other classes of shares:
- STRF shares: $34 million
- STRK shares: $17.3 million
- STRD shares: $16.9 million
This demonstrates a strategic shift in how the company finances its relentless Bitcoin accumulation.
MSTR Stock Faces Pressure
Despite the aggressive buying, Strategy’s stock (MSTR) is facing headwinds. The stock is currently trading around $1,325, down almost 2% from last week’s close. It has also fallen over 16% in the past month.
This decline correlates with Bitcoin’s price movement. BTC has pulled back from its all-time high of $124,000 last month and is currently testing support just below $115,000.
A Word of Caution from Critics
Bitcoin critics like Peter Schiff see this as a warning sign. Schiff has repeatedly warned that Bitcoin is “topping out” and that a potential Federal Reserve rate cut could become a “sell the news” event. He believes MSTR stock is particularly vulnerable if the “BTC bubble” bursts.
However, Strategy’s actions show a company that remains unequivocally bullish, using market dips as an opportunity to increase its historic Bitcoin treasury.
