MicroStrategy has extended its Bitcoin buying spree for the seventh straight week, further cementing its position as the largest corporate Bitcoin holder with nearly $45 billion in assets.
Michael Saylor, the company’s executive chairman, announced the acquisition of 5,262 Bitcoin for $561 million at an average price of $106,662 per BTC. This brings MicroStrategy’s total holdings to 444,262 BTC, reaffirming its status as the top institutional Bitcoin investor.
Despite an initial investment of $27.7 billion, the Virginia-based software firm has seen unrealized profits nearing $15 billion, even amid a recent market correction. Bitcoin’s price dropped below $95,000 following hawkish Federal Reserve commentary, sparking debate over the timing of MicroStrategy’s purchases.
Critics like economist Peter Schiff questioned the strategy, highlighting that this was the smallest weekly purchase in seven weeks. Schiff suggested the company focus on buying dips to optimize shareholder returns.
In a related filing with the SEC, MicroStrategy disclosed the sale of approximately 1.32 million shares of MSTR convertible notes, raising over $7 billion. These funds are earmarked for further Bitcoin acquisitions, aligning with the company’s long-term crypto investment strategy.
Meanwhile, Tokyo-based Metaplanet, often referred to as “Japan’s MicroStrategy,” announced its largest Bitcoin purchase to date, investing $60.6 million into its Bitcoin reserves.
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