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Saylor’s Strategy buys 6,556 Bitcoin for $555 million
Michael Saylor’s company, Saylor’s Strategy, has made a significant move in the market by purchasing 6,556 Bitcoins at an average price of $84,785 between April 14 and 20. This major acquisition saw the company spend around $555 million on the coins.
The purchase was funded through proceeds from its Common ATM equity offering and Series A perpetual convertible preferred stock offering. Saylor’s Strategy sold approximately 1.7 million MSTR shares and over 91,200 STRK shares, generating a total of more than $555 million in net proceeds as detailed in Monday’s SEC filing.
As part of their strategy, the company aims to accumulate $42 billion in Bitcoin by the end of 2027, without regard to market conditions. With this new purchase, Saylor’s Strategy now holds an impressive 538,200 Bitcoins, which accounts for over 2.5% of the total BTC supply. This stash is valued at more than $47 billion based on current market prices.
This announcement follows Saylor’s post about his portfolio tracker on Sunday, a move often seen as a signal that an acquisition or major financial transaction is imminent. Additionally, this marks the second consecutive week that Saylor’s Strategy has made a Bitcoin purchase.
Source: https://cryptobriefing.com/saylor-bitcoin-acquisition-strategy/
