MicroStrategy Acquires 4,980 Bitcoin for $531 Million Amid Speculation
Michael Saylor’s Strategy, formerly MicroStrategy, acquired 4,980 Bitcoin for $531 million, averaging $106,801 per BTC. This purchase ends speculation about a sell-off by the firm and marks the 12th consecutive week of buying.
Key points include:
- Total holdings now stand at 597,325 BTC, with a cumulative investment of $42.4 billion.
- Average purchase price for all holdings is $70,982 per BTC.
- Bitcoin yield is 19.7% year-to-date.
Competition among corporate Bitcoin holders is intensifying. Metaplanet purchased 1,005 BTC, bringing its total to 13,350 BTC.
Concerns Over Wallet Transfers
MicroStrategy transferred 7,382 BTC worth approximately $796 million to new wallets, raising concerns about a potential sell-off. The company has not clarified the reasons behind this transfer.
Additionally, CEO Phong Le has sold about 8,400 shares of MSTR stock in the last three months, raising concerns about insider trading and its implications for BTC.
MSTR stock showed a slight increase of 2% in pre-market trading following the news.