Michael Saylor’s Strategy Adds 155 BTC as Bitcoin Climbs

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Michael Saylor’s Strategy Adds 155 BTC as Bitcoin Climbs


Michael Saylor’s Strategy, previously MicroStrategy, has again bought more BTC for its Bitcoin treasury. This development comes as the Bitcoin price eyes new all-time highs (ATHs). Meanwhile, the MSTR stock has rebounded from its closing price of $395 last week.

Strategy Acquires 155 BTC for $18 Million

In a press release, the company announced that it had acquired 155 BTC for $18 million at an average price of $116,401 per Bitcoin, achieving a BTC yield of 25% year-to-date (YTD). It now holds 628,946 BTC, which it acquired for $46.09 billion at an average price of $73,288 per Bitcoin.

Notably, this is one of Strategy’s smallest purchases this year. Its smallest purchase came when it bought 130 BTC for $10.7 million, earlier in March. Meanwhile, this purchase is smaller than the 245 BTC buy it made in June.

Saylor had hinted about the purchase yesterday in his usual fashion. In an X post, he remarked that one would continue to make money as long as they don’t stop buying BTC, indicating that they added more to their Bitcoin stack.

The purchase comes just a week after Strategy made its largest purchase this year, acquiring 21,021 Bitcoin for $2.46 billion. Meanwhile, the company already filed a $4.2 billion STR offering and plans to use the net proceeds to buy more BTC in the future.

Amid the announcement of the Bitcoin purchase, the MSTR stock is up in premarket trading. TradingView data shows that the stock is currently trading at around $406, up 3% from its last week’s close of $395.

MSTR Daily ChartMSTR Daily Chart
Source: TradingView; MSTR Daily Chart

The Strategy stock rebound follows the Bitcoin price rally over the weekend. As CoinGape reported, the BTC price had broken above $122,000 earlier in the morning, eyeing a new all-time high.

Given Saylor Company’s Bitcoin exposure, the MSTR stock shares a strong positive correlation with the flagship crypto. The stock is up over 31% YTD, outperforming BTC in the process.

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Boluwatife Adeyemi

Boluwatife Adeyemi is a well-experienced crypto news writer and editor who has covered topics that cut across several niches. His speed and alacrity in covering breaking updates are second to none. He has a knack for simplifying the most technical concepts and making them easy for crypto newbies to understand.

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