Michael Saylor's firm, MicroStrategy (MSTR), has recently expanded its already massive Bitcoin holdings, acquiring 1,045 BTC at a cost of $110.2 million last week. The average purchase price for this latest acquisition was $105,426 per Bitcoin, which slightly adjusted the average purchase price for the company's entire Bitcoin stack, now totaling 582,000 BTC, to about $70,086 each. As Bitcoin was trading around $107,500 on Monday morning, MSTR's total holdings are now valued at approximately $62.5 billion. This latest acquisition was financed through market sales of MSTR's preferred stocks, according to a recent SEC filing. Following the news, MSTR's shares saw a 2% increase in premarket trading as Bitcoin's price rebounded from a closing price in the $105,000 range on Friday.
Michael Saylor's Strategy Acquires 1,045 Bitcoin for $110 Million
Michael Strategies' recent purchase of 1,045 Bitcoin for $110 million signals ongoing institutional interest in Bitcoin, contributing to its growing portfolio.
Jamie Bennett
Crypto Analyst
3 min read
17,573
Analysis
Market Sentiment
Bearish
Neutral
Bullish
News Impact
8/10
Credibility: 9/10
Trading Recommendation
BTC
BTC
BUY
Entry Price
$107500
Confidence
800%
Stop Loss
$105000
Take Profit
$110000 - $112000
Positive news from Michael Saylor's strategy indicates stronger institutional interest in Bitcoin, suggesting a potential price increase.
