Michael Saylor has done it again. He has broken his own record for the largest single purchase of bitcoin. Last week, MicroStrategy purchased 55,500 bitcoins at an average price of just under $98,000. This has now become almost a tradition, with the business week starting with a noteworthy bitcoin purchase from the world’s largest corporate owner.
After the acquisition two weeks ago of $4.6 billion (51,780 bitcoins), which Saylor himself labeled as the largest single bitcoin purchase, the company has stepped up its pace, breaking its own record.
The former CEO of MicroStrategy announced the latest purchase of 55,500 bitcoins, valued at approximately $5.4 billion, at an average price of $97,862 per bitcoin. This brings the company’s total holdings to 386,700 bitcoins, purchased at an average price of $56,761.
In total, the company has spent nearly $22 billion to acquire its wealth in the largest cryptocurrency. Given the current price of bitcoin at approximately $98,000, this amount is now worth nearly $38 billion, or over $16 billion in profit.
MicroStrategy’s stock prices have been rising since the introduction of its bitcoin strategy. Since the beginning of the year, MSTR has surged by more than 500 percent, despite a recent decline. Interest in MSTR has also increased, with a day recorded where trading volume surpassed that of Apple, Amazon, and Meta combined.
