Strategy Acquires Additional 525 BTC as Michael Saylor Credits Bitcoin for Growth

Strategy has announced a new acquisition of 525 BTC for $60.2 million at an average price of $114,562 per Bitcoin.

This comes after Michael Saylor’s usual Sunday post on X, where he hinted at another Bitcoin purchase, credited Bitcoin for MSTR’s strong performance compared to Mags 7, and highlighted his company’s BTC tracker.

Its total Bitcoin holdings now stand at 638,985 BTC, purchased for $47.23 billion at an average price of $73,913 each, and have achieved a 25.9% yield.

This recent purchase, together with last week’s acquisition of 1,955 BTC for $217.4 million,  during a period when the S&P 500 was largely ignored, marks Strategy’s seventh week of consecutive buying of Bitcoin.

According to the SEC filing, Strategy did not sell MSTR shares. Instead, it sold STRF, STRK, and STRD shares to raise $34 million,$17.3 million, and $16.9 million, respectively, to fund this Bitcoin purchase.

Strategy Stock Drops As Bitcoin Price Declines

TradingView data shows that  Strategy’s stock has fallen to approximately $325, nearly 2% lower than last week’s closing price of $331.

Over the last five days, the stock has continued to decline, dropping by more than 16% in the past month as Bitcoin moves sideways after falling from its all-time high of $124,000.

Bitcoin critic Peter Schiff said MSTR stock could face more risk because the company holds Bitcoin.He recently warned that Bitcoin might have peaked before a possible rate cut and has repeatedly said that MSTR could crash if the ‘BTC bubble’ bursts.

Amid fears that a rate cut could trigger a “sell the news” reaction Bitcoin price is currently trading at $115,000, down over the past 24 hours.