- Michael Saylor’s MicroStrategy (MSTR) shows no signs of slowing down in its Bitcoin (BTC) accumulation.
- Today, the company announced another massive purchase of 3,000 BTC for the price of $155 million.
Based on the announcement of Michael Saylor on X, MicroStrategy sealed the deal at an average price of $51,813 per Bitcoin. The company now holds 193,000 BTC, which was acquired for around $6.09 billion at an average price of $31,544 per BTC.
The recent move of the company under Saylor’s guidance as its chief executive only reaffirms its commitment to the cryptocurrency with the largest market cap right now. Their unwavering faith in the digital asset also aligns with their recent rechristening as a “Bitcoin development company.”
Bitcoin Now
As of 3:00 PM UTC, the news about MicroStrategy’s recent Bitcoin purchase appears to have already been picked up by the market. During this trading period, Bitcoin is hovering along the $52,300 line with a 24-hour gain of 1.2%.
Meanwhile, the transaction volume rose by 20% as $18.8 billion worth of BTC changed hands between crypto exchanges and wallets. At this point, the digital asset continues to exhibit some signs of upward momentum as its prices are going between a low of $50,931 and a high of $52,350 during the same timeframe.
MicroStrategy is Not Selling
At current prices, the 193,000 BTC of MicroStrategy would already be worth around $10.09 billion. That’s over $4 billion in unrealized gains for the company. But then again, as Saylor previously emphasized, they have no plans of selling their supply.
For Saylor, Bitcoin is the superior asset class when compared to the Magnificent Seven Stocks. That’s because unlike them, BTC’s ecosystem has the capital structure to hold $10 trillion or up to $100 trillion worth of capital. With that, the exec made it clear that they weren’t looking to settle for the losers.
“We believe capital is going to keep flowing from those asset classes into Bitcoin because Bitcoin is technically superior to those asset classes and that being the case, there’s just no reason to sell the winner and to buy the losers,” the investor and business executive explained during an interview with Bloomberg.
And don’t even talk to Saylor about what their exit strategy is when it comes to their Bitcoin purchases. The last time he was asked about it, he firmly answered, “Bitcoin is the exit strategy.”