Michael Saylor’s Strategy Continues Bitcoin Acquisition Spree Following Early June Sale, Drops Another $100,000,000 on BTC

Michael Saylor’s Strategy just dropped another $100 million into Bitcoin (BTC).

It’s the firm’s second large buy in a row after a $101 million purchase last week.

The two sizeable acquisitions materialized on the heels of Strategy’s first BTC sale since 2022. The firm sold 32 BTC worth $2.47 million earlier this month, marking a dramatic shift in tone for the company after Saylor spent years encouraging investors to “never sell” their BTC.

He did tip that a sale could happen, however, suggesting in a recent earnings call that the firm would “probably sell some Bitcoin to fund a dividend just to inoculate the market – just to send the message that we did it.”

After this week’s purchase, Strategy now owns 846,842 Bitcoin worth $56.9 billion at time of writing. Saylor noted that Strategy also increased its US dollar reserve by $100 million to $1.1 billion.

The firm’s stock is up more than 8% on Monday and nearly 9% in the past week, though it remains down by more than 24% in the past month.

Bitcoin itself is up nearly 5% on Monday and nearly 6% in the past seven days.

Strategy is the largest corporate holder of Bitcoin in the world and was the first public company to adopt BTC as its sole treasury reserve asset.

Follow us on X, Facebook and Telegram



Don't Miss a Beat – Subscribe to get email alerts delivered directly to your inbox



Surf The Daily Hodl Mix

Generated Image: Midjourney

The post appeared first on The Daily Hodl.