Saylor Hints at Buying More Bitcoin Following Strategy’s $2B Purchase

TLDR

• Strategy purchased 22,305 BTC for approximately $2.13 billion, pushing its holdings to 709,715 BTC.
• The firm’s Bitcoin holdings are valued at $53.92 billion, representing over 3.3% of Bitcoin’s total supply.
• Michael Saylor posted a message on X suggesting the possibility of further Bitcoin acquisitions.
• Despite the large purchase, Strategy’s stock fell by over 1% in the last 24 hours, continuing a downward trend.
• Bitcoin’s current price has dropped below $90,000, reflecting ongoing market volatility.

Strategy’s executive chairman, Michael Saylor, hinted at continuing the company’s Bitcoin buying strategy with a recent post. After the firm disclosed its largest Bitcoin purchase in over a year, Saylor suggested more acquisitions. The company has aggressively increased its Bitcoin holdings, becoming the largest corporate holder globally.

Strategy Buys Over $2B Worth of Bitcoin

Strategy recently revealed it purchased 22,305 BTC for approximately $2.13 billion. This buy pushed the company’s total Bitcoin holdings to 709,715 BTC, cementing its position as the world’s biggest corporate Bitcoin owner. The purchase was made at an average price of $95,284 per coin.

The firm’s Bitcoin holdings are now valued at roughly $53.92 billion, with an average price of $75,979. This represents more than 3.3% of Bitcoin’s total fixed supply. Saylor’s firm has maintained its dominance, with no other public company coming close to this scale.

Saylor Hints at Further Bitcoin Purchases

Following the purchase, Michael Saylor posted on X, “Thinking about buying more Bitcoin.” His brief message suggests that the firm may not be slowing down its Bitcoin accumulation. This marks a potential return to mega-scale purchases, which had slowed over the past year.

Despite this enthusiasm, Strategy’s stock fell by over 1% in the past 24 hours. The firm’s stock has experienced a weekly decline of more than 9%. This downturn aligns with Bitcoin’s struggle to stay above the $90,000 level, reflecting broader market volatility.

Market Reaction and Bitcoin’s Current Price

Bitcoin’s recent price movements reflect broader market conditions. As of the latest data, BTC is trading around $89,117, after a 0.71% drop in the past 24 hours. The cryptocurrency has also seen a more than 7% decrease on a weekly timeframe, signaling continued market uncertainty.

Despite the volatility, Strategy has maintained its commitment to expanding its Bitcoin treasury. Saylor’s decision to hint at further buys indicates that the firm is confident in its long-term Bitcoin strategy. While the broader market struggles, Strategy continues to add to its position, reinforcing its status as a leading corporate Bitcoin holder.

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