Bitcoin: Michael Saylor Announces A New Massive Purchase
The bitcoin market is holding its breath. The technology giant Strategy, led by Michael Saylor, has once again made a significant move. On May 26, the company announced the purchase of BTC. All the details are in the following paragraphs!
In Brief
- Strategy buys 4,020 BTC for 427 million dollars, reaching a record reserve of 580,250 BTC.
- Michael Saylor predicts a bitcoin price of 13 million dollars, a potential solution to global debt.
An accumulation strategy shaking up the bitcoin market
The latest purchase by Strategy was less than a week ago. During the day, Michael Saylor had already hinted at a new buying offensive. The tracker he regularly shares on X had indeed just signaled a major upcoming move, as during the previous six weeks. And that has now happened!
Strategy has just purchased 4,020 BTC for a total of 427.1 million dollars. This new bitcoin purchase was funded through three stock sale programs including:
- 847,000 MSTR shares;
- 678,970 STRK shares;
- 104,423 STRF shares.
This now brings the company’s reserve to 580,250 BTC. An absolute record in bitcoin treasury history!
Bitcoin at the heart of a bold economic vision
For Michael Saylor, bitcoin adoption is a response to the global debt crisis. He actually believes that bitcoin could reach 13 million dollars per unit by 2045, with an extreme target of 49 million dollars.
In the most conservative scenario, he even values BTC at 3 million dollars. This represents 40 times its current value.
That’s not all! Michael Saylor also expects that bitcoin capitalization could climb to 200 trillion dollars, more than all global financial assets combined.
With this massive purchase, Strategy certainly confirms its dominant position in the crypto market. Even better! Saylor’s appetite for bitcoin could well redefine treasury management on a global scale.
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My name is Ariela, and I am 31 years old. I have been working in the field of web writing for 7 years now. I only discovered trading and cryptocurrency a few years ago, but it is a universe that greatly interests me. The topics covered on the platform allow me to learn more. A singer in my spare time, I also cultivate a great passion for music and reading (and animals!)
The views, thoughts, and opinions expressed in this article belong solely to the author, and should not be taken as investment advice. Do your own research before taking any investment decisions.