Michael Saylor’s Strategy Expands Its Bitcoin Portfolio
The cryptocurrency market took another exciting turn as Strategy, led by Michael Saylor, recently acquired an additional 2,932 Bitcoin (BTC). This latest purchase brings the company’s total Bitcoin holdings to an impressive milestone of 712,647 BTC, which accounts for approximately 3.2% of Bitcoin’s maximum supply of 21 million coins. This achievement firmly establishes Strategy as the largest holder of Bitcoin among publicly traded companies.
A Massive Investment in Bitcoin
Based on a filing with the U.S. Securities and Exchange Commission, the Bitcoin acquisition was completed at an average price of $90,061 per coin, translating to a total investment of $264.1 million. This brings the company’s total Bitcoin purchase costs to $54.2 billion, including fees. At the current market price, the reserves are estimated to be worth approximately $62.5 billion, showcasing significant unrealized gains.
The company funded these purchases through capital raised in innovative ways, including at-the-market sales of Class A common stock and perpetual preferred shares. Even after these transactions, Strategy’s capital programs still allow for billions more to be raised if needed.
Bitcoin Acquisition as a Long-Term Strategy
Michael Saylor’s commitment to Bitcoin has been a defining strategy for the company. The latest accumulation was teased via an update on Strategy’s Bitcoin acquisition tracker, shared publicly by the executive chairman. In a week when the company previously disclosed purchasing 22,305 BTC for roughly $2.1 billion, their doubling down on Bitcoin positions cements their high conviction in the future of the digital currency.
With an accumulation history that includes 55,500 BTC in a single week in November 2024, Strategy’s consistent purchases highlight its belief in the long-term value and utility of Bitcoin as a digital asset.
How Does Strategy Compare to Other Companies?
Among publicly listed firms, Strategy’s holdings far outpace those of competitors. Firms such as MARA Holdings and Twenty One Capital, the next-largest Bitcoin-holding companies, only manage to hold Bitcoin reserves in the tens of thousands. Overall, the top 100 public companies own just over 1.13 million BTC combined, with Strategy’s stash accounting for well over half of this total.
Why Bitcoin Is Still the King of Cryptocurrencies
Bitcoin’s dominance in the cryptocurrency world remains unparalleled, with its market cap exceeding $1 trillion. Companies like Strategy underscore Bitcoin’s enduring appeal as a store of value and hedge against macroeconomic uncertainty. As the digital currency continues its trajectory of increased adoption, including by institutional investors, its scarcity – with a capped supply of 21 million coins – further adds to its allure.
How You Can Start Your Bitcoin Journey
For individuals looking to invest in Bitcoin, choosing a reputable cryptocurrency platform is key. Consider products like the Ledger Nano X Hardware Wallet (shop.ledger.com) to securely store your digital assets. With its industry-leading security features, the Ledger Nano X is designed for both beginners and seasoned investors, allowing you to manage your cryptocurrency investments with ease.
