Saylor’s Strategy Is Back Spending Over $1 Billion to Buy More Bitcoin

The world’s largest corporate holder of BTC has resumed its billion-dollar bitcoin purchases, accumulating more than 10,000 BTC in its latest buy.

Michael Saylor, the company’s former CEO and bitcoin champion, announced the acquisition today, which pushed the firm’s total holdings to 592,100 BTC.

https://twitter.com/saylor/status/1934582626448236794?ref_src=twsrc%5Etfw” data-wpel-link=”external” target=”_blank” rel=”nofollow noopener

The ongoing tension between Israel and Iran hasn’t deterred Strategy from increasing its BTC stash by spending just over $1 billion to acquire 10,100 bitcoins at an average price of $104,080.

Its holdings have shot up to 592,100 BTC, bought for $41.84 billion. Given the cryptocurrency’s current market price of roughly $107,000, this puts Strategy’s position at over $63.3 billion, or an unrealized profit of more than $21 billion.

This week’s purchase announcement is significantly higher than the previous two, in which the company spent $75.1 million and $110 million, respectively.

Saylor published another hint that this week’s acquisition will be a bigger one yesterday, while also pitching the idea of a Bitcoin Treasury to Pakistan’s authorities.

Aside from Strategy, the other big BTC buyer as of late, Metaplanet, also increased its position by hitting the 10,000 bitcoins mark.

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