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MainNewsSaylor’s Str...

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


by Jordan Lyanchev
for CryptoPotato
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.

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.

The post Saylor’s Strategy Is Back Spending Over $1 Billion to Buy More Bitcoin appeared first on CryptoPotato.

Read the article at CryptoPotato

Read More

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MainNewsSaylor’s Str...

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


by Jordan Lyanchev
for CryptoPotato
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.

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.

The post Saylor’s Strategy Is Back Spending Over $1 Billion to Buy More Bitcoin appeared first on CryptoPotato.

Read the article at CryptoPotato

Read More

Bitcoin (BTC) Could Reach $205K in 2025 if Historic Growth Cycle Holds

Bitcoin (BTC) Could Reach $205K in 2025 if Historic Growth Cycle Holds

Historical data shows Bitcoin's strongest growth often comes in the third year of its...
Is Bitcoin Done Falling? Market Metrics Say the Worst May Be Over

Is Bitcoin Done Falling? Market Metrics Say the Worst May Be Over

Market behavior, past data, and the Bitcoin Net Taker Volume suggest that the correct...