Michael Saylor’s digital asset treasury company Strategy just gobbled up another $18.8 million worth of Bitcoin (BTC).
Saylor announced that the firm has purchased 168 Bitcoin at a price of $112,051 per BTC.
Strategy now owns 640,418 BTC acquired for approximately $47.40 billion, at a cost of roughly $74,010 per Bitcoin.
Saylor says Strategy has achieved a BTC yield of 26.0% year-to-date. The firm, listed on the Nasdaq under the ticker MSTR, is the world’s largest corporate Bitcoin holder. It was also the first company to use BTC as its sole treasury asset.
BTC is trading at $110,845 at time of writing. The top-ranked crypto asset by market cap is up more than 2% in the past 24 hours but down nearly 3.5% in the past week.
In a Bloomberg interview earlier this year, Saylor predicted that Bitcoin will not have to endure future boom-and-bust cycles.
“Winter’s not coming back. We’re past that phase. Bitcoin’s not going to zero, it’s going to $1 million.”
The Strategy founder said his bullishness was due to the Trump Administration’s embrace of crypto and the doors it opened for future institutional adoption.
“The banks are going to custody Bitcoin. Bitcoin has gotten through its riskiest period, the accounting has been corrected.
There’s now only 450 Bitcoin a day available for sale by natural sellers, that’s the miners. At this level, that works out to about $50 million of Bitcoin available for sale every day. If that $50 million is bought, then the price has got to move up to find any seller that’s price sensitive.”
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