Key Points
- MicroStrategy has made its 10th consecutive weekly purchase of Bitcoin, securing its position as the largest corporate BTC holder.
- The company’s latest acquisition is 2,530 BTC, costing approximately $243 million.
MicroStrategy, a software company from the dotcom era, has continued its trend of buying Bitcoin for the tenth week in a row, strengthening its standing as the leading corporate holder of BTC.
The firm recently acquired an additional 2,530 Bitcoin, investing around $243 million in this latest transaction, as stated by executive chairman Michael Saylor.
Continuous Bitcoin Accumulation
This acquisition represents the company’s tenth consecutive weekly purchase, indicating that Saylor’s aggressive Bitcoin accumulation strategy remains unchanged. Saylor, who was previously skeptical about cryptocurrency, has become a passionate advocate for Bitcoin and last year announced his ambitious “21/21” plan to amass $42 billion worth of BTC over a three-year period.
Saylor’s approach, often dubbed the “infinite money glitch,” involves selling company stock—MSTR—to fund Bitcoin purchases. This strategy has been adopted by several U.S. firms, such as Marathon Holdings, and offshore entities like Metaplanet, to boost their own corporate BTC reserves.
Increased Corporate Adoption
Fidelity, a Wall Street behemoth, recently predicted that more companies previously resistant to Bitcoin would start adding the asset to their balance sheets in 2025 as corporate adoption picks up pace.
MicroStrategy has reportedly spent a staggering $28.2 billion on Bitcoin since 2020. The company, being the largest private BTC holder, currently possesses approximately 450,000 tokens purchased at an average price of $62,691. The value of Saylor’s Bitcoin holdings exceeds $41 billion, with BTC trading at $91,600 at the time of reporting, down 3.2% in the last 24 hours.
