Crypto Craze Continues: Michael Saylor’s Bold 15,355 BTC Acquisition

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Strategy has acquired 15,355 Bitcoin tokens at a price of $1.42 billion, marking its second significant purchase in two consecutive weeks. The company’s executive chairman, Michael Saylor, announced the acquisition via social media on Monday.

This action further cements Strategy as the largest corporate owner of the cryptocurrency, with its present holding totaling 553,555 Bitcoin valued at approximately $52 billion.

Strategy Pays High Premium For Latest Bitcoin Acquisition

Strategy obtained the latest Bitcoin at an average rate of $92,737 per coin, according to Saylor’s statement. This figure significantly exceeds their overall average expense of $68,459 per BTC. The acquisition follows what seems to be a monthly cycle where Strategy tends to make its largest purchases towards the end of each month.

The organization, which rebranded from MicroStrategy and shifted from business intelligence to crypto development, has purchased Bitcoin three times within the past five weeks. Reports suggest that this aggressive buying strategy has proven effective as their assets have yielded a 14% return year to date.

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Source: Strategy

Strategy’s Crypto Assets Surpass Other Corporate Investors

The valuation of Strategy’s BTC assets positions it far ahead of other publicly listed firms that invest in the cryptocurrency. As per data from Bitcoin Treasuries, Strategy currently possesses 505,955 more BTC than the second-ranking Marathon Digital and 522,055 more than the third-place Twenty One Capital.

BTC is now trading at $94,712. Chart: TradingView

Strategy has invested nearly $38 billion in total for its crypto acquisitions. With the value of its holdings exceeding $50 billion at present, the firm enjoys an unrealized profit of $14 billion. This profit exists only on paper until the company decides to sell part of its assets.

End-Of-Month Buying Trend Emerges

A cryptocurrency specialist named J.A. Maartunn of CryptoQuant highlighted Strategy’s tendency to make its largest purchases at month’s end. The firm acquired 20,365 Bitcoin ($1.99 billion) in late February and 22,048 Bitcoin ($1.92 billion) in late March, with this latest April acquisition following the same pattern.

Between these substantial end-of-month transactions, Strategy’s purchases never exceeded 7,000 BTC, corroborating the analyst’s observations regarding the firm’s buying habits. This trend indicates that the company may continue to make significant purchases in the upcoming months.

Featured image from Unsplash, chart from TradingView

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