The post Breaking: Michael Saylor’s Strategy Expands Bitcoin Holdings to 641,692 BTC appeared first on Coinpedia Fintech News
Michael Saylor is buying Bitcoin again even as his company’s stock faces one of its toughest stretches this year. The billionaire’s firm, now operating under the name Strategy (formerly MicroStrategy), has added another 487 BTC worth $49.9 million.
Here’s what you need to know.
Another Confident Bet on Bitcoin
Between November 3 and 9, Strategy bought the Bitcoin at an average price of $102,557 per BTC, bringing its total holdings to 641,692 BTC. The company has spent about $47.54 billion on Bitcoin so far, at an average of $74,079 per coin.
The filing said the latest purchase was funded through proceeds from the sale of STRF, STRC, STRK, and STRD stock under the firm’s at-the-market (ATM) program.
Michael Saylor confirmed the move on X.
The Tweet That Sparked Buzz
Just before the news, Saylor posted a short but loaded message: “₿est Continue.” For long-time followers, that was enough to suggest another Bitcoin purchase was coming. His post also featured the familiar orange-dot chart.
Saylor’s post came just as Goldman Sachs predicted that the U.S. Federal Reserve could start cutting interest rates before the end of 2025 – a move that usually benefits risk assets like Bitcoin.
With BTC hovering around $106,000, many saw Saylor’s tweet as his way of saying he’s not done accumulating.
Stock Takes a Beating
While Strategy keeps stacking Bitcoin, the stock is taking heavy hits. Strategy shares have dropped nearly 60% in the past year, falling to a new 52-week low of $219.68 last Friday, down from a peak of $473 last November.
When Bitcoin is in trouble, the firm’s stock comes under growing pressure.
Still, the company isn’t backing down. It recently raised €620 million through a preferred stock offering, with the funds aimed at buying even more Bitcoin.
The Bigger Picture
But that hasn’t stopped Saylor. Strategy is one of the biggest Bitcoin holders in the world. And even with market volatility and falling stock prices, Saylor seems to be sending one clear message – his faith in Bitcoin is here to stay.
Source: https://coinpedia.org/news/breaking-michael-saylors-strategy-expands-bitcoin-holdings-to-641692-btc/
