- Strategy acquires 13,390 BTC for $1.34 billion, bringing its holdings to 568,840 BTC.
- Bitcoin price hits $104,110, just 4% shy of its all-time high from January.
- Strategy’s average Bitcoin cost rises to $99,856 per coin as it pivots to securitizing BTC.
Another Monday, another Bitcoin buy for Michael Saylor’s Strategy. The company – which ditched its old name, MicroStrategy – just snapped up another 13,390 BTC between May 5 and May 11, dropping a cool $1.34 billion, according to a Monday SEC filing. That brings Strategy’s stash to a staggering 568,840 BTC, now worth about $59 billion.
Saylor himself took to Twitter to break down the numbers. The firm’s average cost per Bitcoin? Around $69,287. But this latest purchase averaged $99,856 per coin, significantly higher. Despite the sky-high price tag, Strategy’s year-to-date Bitcoin yield still clocks in at 15.5%. Not exactly chump change.
A Shift in Strategy – and a New All-Time High?
It’s wild to think that Strategy was once just a data analytics firm. Then COVID-19 hit, and Michael Saylor decided Bitcoin was the move. Since 2020, the Tysons, Virginia-based company has been piling up BTC, arguing it’s the ultimate inflation hedge. Now, the company’s business model revolves around securitizing Bitcoin, letting investors grab shares of BTC exposure through a publicly traded stock.
Other firms have noticed – smaller players like Metaplanet and Semler Scientific are now mimicking Strategy’s game plan, snapping up Bitcoin and pitching it as a way to safeguard assets against economic chaos.
Bitcoin’s Surge Continues
And they’re not the only ones betting big. Bitcoin’s been on a tear lately, hitting $104,110 after an 11% surge over the past week, according to CoinGecko. It’s just a hair away – 4% – from its all-time high of $108,786, set back in January.
Strategy’s relentless buying spree has only added fuel to the fire, with the company now holding more Bitcoin than any other public corporation. The question now: Is this the peak, or is Saylor just getting started?
