- Strategy purchases 130 Bitcoin for $11 million, bringing total holdings to 499,226 BTC.
- With over 2% of Bitcoin’s total supply, Strategy becomes a leading corporate holder.
- Michael Saylor predicts Bitcoin could reach $250K, comparing its growth to gold’s rise.
Strategy, formerly known as MicroStrategy, has purchased 130 Bitcoin for approximately $11 million. The acquisition took place between March 10 and March 16 at an average price of $82,981 per Bitcoin. According to a recent SEC filing, the purchase was funded by proceeds from the sale of 123,000 shares of Strategy’s 8.00% Series A Perpetual Strike Preferred Stock (STRK Shares). This sale generated approximately $10.7 million in net proceeds.
The company emphasized that no Class A common stock was sold during this period. The latest purchase brings Strategy’s total Bitcoin holdings to 499,226 BTC, valued at over $41.6 billion at current market prices. Furthermore, the firm mentioned that these holdings were acquired at an average price of $66,360 per Bitcoin, including transaction fees and expenses.
Strategy’s Position in Bitcoin Market
Strategy has now accumulated over 2% of Bitcoin’s total supply of 21 million BTC. This positions the company as one of the largest corporate holders of Bitcoin. The firm’s strategy has been to acquire Bitcoin as a long-term investment, with Saylor continuing to champion Bitcoin as a store of value.
Strategy’s shares closed up 13% on Friday at approximately $297. Over the past year, the company’s stock has risen by more than 77%. However, in pre-market trading, the stock is slightly lower. This reflects typical market fluctuations despite the company’s strong performance over the past year.
Saylor’s Bitcoin Outlook
In an interview, Michael Saylor expressed his strong, bullish outlook on Bitcoin’s future. He believes that Bitcoin will eventually be stored directly on mobile phones. Saylor also predicts that major tech companies like Microsoft, Google, Apple, and Amazon will eventually integrate Bitcoin into their services. Banks, according to Saylor, will begin offering loans secured by Bitcoin, and insurance companies will support Bitcoin as well.
Related: Bank of Korea Rejects Bitcoin (BTC) for Foreign Reserves
Saylor also used the growth of gold as a benchmark for Bitcoin’s future growth. He suggested that if Bitcoin follows similar patterns and trends, it could experience a significant price increase. Recalling the launching of Bitcoin ETF at $38K, Saylor confidently said that it could go up to $250K. This optimism shows that Strategy has its eyes set firmly on increasing its number of owned Bitcoins while setting it up for a long-term run.
