Michael Saylor’s MicroStrategy, now known as Strategy, has made another Bitcoin purchase. This time, the company purchased 22,048 BTC for $1.92 billion, bringing its total holdings to 528,185. Meanwhile, the MSTR stock is back in the red amid this recent purchase.
MicroStrategy Acquires 22,048 BTC For $1.92 Billion
In a press release, MicroStrategy revealed that it has acquired 22,048 BTC for $1.92 billion at an average price of $86,969 per Bitcoin and has achieved a BTC yield of 11.0% year-to-date (YTD).
Following this purchase, Strategy now holds 528,185 BTC, which it acquired for $35.63 billion at an average price of $67,458 per Bitcoin. Meanwhile, the company remains the public company with the largest Bitcoin holdings.
This comes just a week after the company acquired 6,911 BTC for $584 million. Saylor and MicroStrategy will likely make more purchases in the coming weeks as they have raised billions of dollars for their Bitcoin acquisition plans.
Earlier in March, Saylor’s company announced plans to raise $21 billion through sales of its perpetual strike preferred stock to buy more Bitcoin. A week later, the company again announced plans to raise $722 million to accelerate its Bitcoin bet.
It is worth mentioning that Strategy already owns around 2.5% of Bitcoin’s total supply. Renowned economist Peter Schiff has continued to criticize Saylor’s Bitcoin Strategy. He recently stated that the company will, at some point, no longer have shares to sell or be able to borrow to buy more BTC. When that happens, Schiff predicts that Strategy’s stock and the Bitcoin price will crash.
MSTR Stock Back In The Red
MicroStrategy’s stock has declined amid the company’s recent purchase, dropping below $300. Nasdaq data shows that the MSTR stock is currently trading at around $280, down over 3% in pre-market trading.
The MSTR stock has recovered above $300 last week. However, it faces bearish pressure thanks to Bitcoin’s erratic price action. The stock market is also facing a wave of sell-offs at the moment due to Donald Trump’s tariffs, which continue to hamper the markets.
The post Breaking: Michael Saylor’s MicroStrategy Acquires 22,048 Bitcoin For $1.92 Billion appeared first on CoinGape.
