Michael Saylor’s Strategy has made headlines in the cryptocurrency world by purchasing an impressive $75.1 million worth of Bitcoin (BTC) as the price dropped to $103,000 in late May. This significant acquisition included 705 BTC and is part of the company’s ongoing strategy to accumulate this leading cryptocurrency.
Between May 26 and 30, Strategy capitalized on the market conditions, purchasing Bitcoin at an average price of $106,495 per coin. This purchase came during a time when the Bitcoin market experienced heightened volatility, dropping from the previous week’s high of $110,000 to an intraweek low of $103,400. Despite the fluctuations, Strategy remains bullish on Bitcoin’s long-term potential.
The recent buy marks the final acquisition of Bitcoin for Strategy in May, bringing the company’s total holdings to a staggering 580,955 BTC, valued at approximately $40.68 billion. The average purchase price for these holdings stands at $70,023 per coin. With these assets, the company has achieved a year-to-date Bitcoin yield of 16.9%, reflecting a 0.1% increase from its previous buy.
Strategy’s goal is to reach a BTC yield target of 25% by the end of 2025. This ambitious plan follows an adjustment of their yield target upwards from 15% earlier this May. With significant acquisitions and a proactive market strategy, Michael Saylor’s company is well-positioned for continued growth. According to analysts, including Strategy’s own Jeff Walton, the company is aiming to become the top publicly traded equity in the cryptocurrency sphere due to its massive Bitcoin holdings.
In a related move, Strategy director Jarrod Patten sold 3,750 shares worth nearly $1.4 million between May 22 and 29, which put some downward pressure on MSTR stock. This stock experienced fluctuations, dipping below $360 before recovering to close last week at $369. Despite some recent volatility, MSTR has gained approximately 23% year-to-date, showcasing resilience.
As the landscape of cryptocurrency continues to evolve, Strategy’s latest moves reflect a deeper commitment to Bitcoin’s potential as an asset class. Through these strategic purchases and operational adjustments, the company stands at the forefront of Bitcoin investment and corporate treasury management.
