MicroStrategy shows no signs of stopping in its Bitcoin accumulation journey, announcing an additional $209 million BTC purchase for the eighth consecutive week.
Strategy 'Never Stop'
Today, #MicroStrategy – the company transitioning from cloud computing to 'Bitcoin development' – announced the addition of 2,138 BTC to its asset reserve. At an average price of $97,837/BTC, the newly purchased Bitcoin raises the total number of BTC owned by this company to 446,400 BTC, valued at approximately $41 billion at current prices.
MicroStrategy's purchasing journey $BTC began in 2020 when founder and chairman Michael Saylor decided to seize the opportunity from the economic crisis caused by the pandemic. Since then, the company has continuously accumulated more Bitcoin despite market fluctuations.
Buy Strongly After Every Major Event
MicroStrategy has significantly accelerated its Bitcoin purchases in recent weeks. Specifically, right after the U.S. presidential election, the company spent up to $2 billion to acquire BTC at an average price of $74,463. Not stopping there, the following week, the company increased this number to $4.6 billion and then made its largest purchase with $5.4 billion.
Saylor once stated: 'We will keep buying the dip forever.' And true to his words, the company has been steadily purchasing Bitcoin weekly since then.
Bitcoin Price Stabilizes, Saylor Remains Optimistic
Although this news did not cause the Bitcoin market to rise immediately, #MichaelSaylor is not worried at all. Currently, the price of Bitcoin is around $91,700, down 2% from the day's high of $94,000 and still far from the peak of $108,135 achieved two weeks ago.
According to Saylor, MicroStrategy has spent a total of $27.9 billion to build this Bitcoin reserve, and the current value is nearly double the initial investment.
When Will BTC Be Sold?
The answer from Michael Saylor is very clear: 'Maybe never.' In a recent interview, he affirmed: 'We have no plans to sell and will continue to buy Bitcoin forever.'
Conclusion
With 446,400 BTC in hand, MicroStrategy continues to hold the position of the largest Bitcoin-owning company in the world. Saylor's bold 'buy the dip' strategy is one of the factors that help reinforce confidence in Bitcoin while demonstrating his determination amid market fluctuations. Will this strategy succeed in the long run? Time will tell.