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Michael Saylor’s Bitcoin Bet Grows Bigger with Latest Strategy Inc. Acquisition
Michael Saylor – In a bold move reinforcing its position as a crypto heavyweight, publicly-traded company Strategy Inc. has acquired 6,220 Bitcoin for approximately $740 million. The average purchase price stands just below $119,000 per Bitcoin, signaling the firm’s unwavering confidence in the world’s leading cryptocurrency.
Michael Saylor Leads the Bitcoin Charge
The company, led by prominent Bitcoin advocate Michael Saylor, now boasts a jaw-dropping 607,770 BTC in its treasury. According to data, the firm has spent a staggering $43.6 billion on these holdings, locking in an average price of $71,756 per coin.
This latest acquisition comes hot on the heels of another sizable purchase last week, where 4,225 BTC were added to the company’s balance sheet — right before Bitcoin’s surge to a new all-time high. That batch was bought at an average price of $111,827, showcasing Strategy Inc.’s aggressive accumulation strategy.
Institutional Crypto Treasuries on the Rise
The race to build corporate crypto treasuries is heating up. Strategy Inc.’s long-standing focus on Bitcoin highlights a growing trend among public companies using BTC as a strategic reserve asset. However, it’s not just Bitcoin catching institutional attention.
ETH Joins the Corporate Spotlight
In a significant development, The Ether Machine, a Pantera-backed startup, has revealed plans to go public with a hefty 400,000 ETH in committed capital. This signals a possible shift, or at least diversification, in the corporate crypto space — where Ethereum begins to share the spotlight.
While Bitcoin remains king, Ethereum’s increasing adoption could mark the beginning of a more diversified crypto treasury landscape.
Disclaimer: This article is for informational purposes only and does not constitute investment advice. Cryptocurrencies and stocks, particularly in micro-cap companies, are subject to significant volatility and risk. Please conduct thorough research before making any investment decisions.
