Saylor’s Strategy Thunders Back After Last Week’s Bitcoin Sale Rattles Crypto Sector, Acquires $101,000,000 Worth of BTC
Michael Saylor’s Strategy seems to have regained its Bitcoin (BTC) appetite.
The firm announced today that it has purchased 1,550 BTC for $101 million, increasing its total holdings to 845,256 Bitcoin.
Strategy’s buy materializes a week after it announced its first BTC sale since 2022, hawking 32 BTC worth $2.47 million.
The sale marked a dramatic shift in tone for Strategy 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.”
Saylor, a vocal Bitcoin evangelist, was notably quiet about the sale on social media. He usually announces the firm’s weekly BTC purchases on X.
In this week’s announcement, Saylor noted that Strategy also increased its US dollar reserve by $100 million to $1.0 billion.
The firm’s stock is up more than 6% on Monday, but remains more than 10% down in the past five days and nearly 32% down in the past month.
Bitcoin’s price also suffered last week, dropping more than 10% in the past seven days. The top-ranked crypto asset by market cap is up more than 2.5% in the past 24 hours, however.
Generated Image: Midjourney
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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