It’s eight consecutive days.
MicroStrategy announced today that it has purchased an additional $209,000,000 worth of Bitcoin. This is its eighth weekly purchase. The cloud computing firm has turned. “Bitcoin development” A company has reported that it purchased 2,138 BTC for an average of $97 837.
MicroStrategy is now the largest Bitcoin corporate owner in the world, with 446.400 BTC. This total BTC value today is approximately $41 Billion.
Michael Saylor began buying Bitcoins for MicroStrategy treasury after March 2020’s pandemic-induced crash. As the Federal Reserve prepared to inject trillions into the U.S. economy, Saylor seized on the opportunity—and hasn’t looked back since.
MicroStrategy has recently increased its pace of buying Bitcoin. On the Monday after Donald Trump won on Election Day in 2016, MicroStrategy announced its largest ever purchase, buying more than 2 billion Bitcoins at an average of $74,463. The company bought another $4.6 Billion worth of Bitcoin the following week. It then stepped up the game again by buying $5.4 Billion in one go the week after.
Since then, the company continues to buy Bitcoin each week without any sign of slowing.
Saylor has historically boosted Bitcoin prices with his bullish actions, but today’s market activity is muted. Bitcoin’s price is currently down 2% from its high today of $94,000, to about $91,700 at the time of writing. Saylor isn’t worried about the fact that Bitcoin has fallen from a high of $94,000 to around $91,700 in just a few hours.
Saylor, a micro-strategy employee, reminded followers of X that MicroStrategy had spent $27,9 billion on its Bitcoin treasury. This is nearly doubling the investment made so far.
What’s your game plan? When will MicroStrategy start selling off their BTC to cash out the gains? Not any time soon—and maybe not ever, if Saylor can be taken at his word. Saylor told CNBC in an earlier interview: “We’ll just keep buying the top forever.”
