Michael Saylor’s Strategy Buys $110 Million Worth of Bitcoin

Strategy continues its weekly buying spree, adding more than 1,000 BTC to its growing stockpile.

Michael Saylor announced that Strategy has made yet another considerable Bitcoin buy, adding 1045 BTC to its stash.

The company spent approximately $110.2 million at $105,426 per coin. Year-to-date, Strategy has achieved a BTC yield of 17.1% and as of yesterday, it holds 582,000 BTC acquired for $70,086 each, currently worth almost $41 billion.

The most recent purchase doesn’t really come as a surprise as the company has virtually created a BTC playbook for diversifying corporate treasuries with the leading digital asset.

This move reaffirms Saylor’s growing positivity on the asset. Recall that he’s a firm believer that Bitcoin will reach a price of $1 million once Wall Street firms start allocating just 10% of their reserves into it.

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George Georgiev
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Georgi Georgiev is CryptoPotato's editor-in-chief and a seasoned writer with over 8 years of experience writing about blockchain and cryptocurrencies. Georgi's passion for Bitcoin and cryptocurrencies bloomed in late 2016 and he hasn't looked back since. Crypto’s technological and economic implications are what interest him most, and he has one eye turned to the market whenever he’s not sleeping.