Strategy’s Bitcoin acquisition rate has been significantly down since September, threatening to limit Bitcoin’s price recovery. Michael Saylor’s Strategy added another 397 Bitcoin worth about $45.6 million, but the company’s buying pace continues to slow compared to its pre-October accumulation streak. Strategy acquired 397 Bitcoin (BTC) worth $45.6 million last week at an average price of $114,771 per coin, according to a Monday filing with the US Securities and Exchange Commission. This brought its total holdings to 641,205 BTC, acquired for $47.49 billion at an average price of $74,047 per coin, with a Bitcoin yield of 26.1% year-to-date (YTD), according to a Monday X post from Strategy. Read more
Strategy’s third-quarter net income was down from its record $10 billion in Q2, but still lifted its shares after the bell. Shares in Strategy have risen nearly 6% after hours as the Bitcoin treasury company reported a net income of $2.8 billion for its third quarter, down from the second quarter but still beating analyst expectations. Strategy on Thursday reported diluted earnings per share of $8.42 for the three months ending Sept. 30, beating Wall Street expectations of $8.15. Its $2.8 million income for the quarter was a major jump from its $340.2 million loss the same time a year ago, but a fall from its record $10 billion net income in Q2. Read more
S&P Global Ratings said Strategy’s high Bitcoin concentration and low US dollar liquidity, among other factors, are weaknesses for the firm. S&P Global Ratings has given Michael Saylor’s Strategy a “B-” credit rating, placing it in the speculative, non-investment-grade territory — often referred to as a “junk bond” — although it said the Bitcoin treasury company’s outlook remains stable. “We view Strategy’s high bitcoin concentration, narrow business focus, weak risk-adjusted capitalization, and low US dollar liquidity as weaknesses,” the credit rating platform said in a review of Strategy on Monday. Strategy has accumulated its 640,808 BTC treasury mainly via equity and debt financing. The stable outlook assumes the company will prudently manage convertible debt maturities and maintain preferred stock dividends, potentially through additional debt issuance, it said. Read more
Strategy posted one of its slowest months for buying BTC, with a total of 778 BTC purchased in October, down 78% from 3,526 BTC in September. Michael Saylor’s strategy, the world’s largest public Bitcoin holder, added to its BTC holdings last week amid rising momentum, but buying activity has slowed considerably since September. Strategy purchased 390 Bitcoin (BTC) for $43.3 million in its latest BTC acquisition last week, according to a US Securities and Exchange Commission filing on Monday. The purchases were made at an average price of $111,117 per BTC, with Bitcoin briefly rising past $113,000 on Tuesday, according to CoinGecko data. Read more
After its latest modest purchase, Michael Saylor’s Strategy has 59,582 BTC to go before hitting 700,000 BTC on its balance sheet. Michael Saylor’s Strategy, the world’s largest public Bitcoin holder, added to its BTC stash last week amid another market sell-off following the Black Friday crypto crash. Strategy acquired 168 Bitcoin (BTC) for $18.8 million last week, according to data published by Strategy on X on Monday. The latest Bitcoin acquisition was made at an average price of $112,051, though Bitcoin slipped below $104,000 on Friday amid the shockwaves of the market crash on Oct. 10, according to Coinbase data. Read more
Michael Saylor’s Strategy Inc. announced its first Bitcoin purchase in October after opting not to buy more BTC the previous week. Michael Saylor’s Strategy, the world’s largest public holder of Bitcoin, expanded its BTC holdings last week as the cryptocurrency surged to new all-time highs. Strategy acquired 220 Bitcoin (BTC) for $27.2 million in its latest purchase, Saylor announced in an X post on Monday, as the related filing had yet to appear on the US Securities and Exchange Commission website. The purchase was made at an average price of $123,561 per coin as Bitcoin reached an all-time high above $126,200 on Oct. 6 before dipping to $107,000 in Friday’s flash crash, according to data from Coinbase. Read more
Strategy’s $78 billion stash of Bitcoin is close to the cash positions held by Amazon, Google and Microsoft, the last of which rejected Bitcoin as a treasury asset last year. Strategy’s near-$80 billion Bitcoin treasury is catching up to the massive cash positions of tech giants such as Microsoft, whose shareholders rejected a proposal in December to explore adding Bitcoin to its books. Strategy posted to X on Tuesday that its 640,031 Bitcoin (BTC) stash briefly topped $80 billion in value on Monday as Bitcoin hit a record high of $126,080, boosting the value of its corporate treasury close to Amazon, Google, and Microsoft, which each hold between $97 billion and $95 billion in cash or cash equivalents. Strategy’s routine Bitcoin buys, combined with Bitcoin’s rise in value, have already pushed its treasury past the value of Nvidia, Apple and Meta’s — the latter of which considered a proposal to explore making Bitcoin a treasury asset before overwhelmingly voting against it in June. Read more
Strategy’s Bitcoin bet swelled by $3.9 billion in unrealized gains last quarter, even as Michael Saylor broke tradition by skipping a fresh BTC purchase. Strategy Inc. co-founder and executive chairman Michael Saylor said Monday that the company had a massive $3.9 billion fair value gain on its Bitcoin holdings during the third quarter of the year. On Saturday, Bitcoin (BTC) reached a new all-time high of $125,000 as exchange balances plunged to six-year lows. Saylor’s Strategy, a company known for adding to its Bitcoin stockpile during new price highs, said that it is skipping its BTC purchase this week. On X, Saylor said that instead of a new Bitcoin buy, the company is highlighting its returns. “No new orange dots this week — just a $9 billion reminder of why we HODL,” Saylor said, sharing a chart where orange dots represented the company’s Bitcoin buys. Read more
Michael Saylor’s $73-billion Bitcoin bet: Inside Strategy’s playbook, bold $1-million thesis and the risks that could shape corporate finance. Michael Saylor’s goal is to redefine corporate treasuries. Since August 2020, Michael Saylor’s company (once known as MicroStrategy and now rebranded as Strategy) has become one of the largest public holders of Bitcoin (BTC). Read more
Strategy’s latest $99.7 million Bitcoin acquisition brought its total Bitcoin holdings to 639,835 BTC, acquired for about $47.3 billion. Michael Saylor’s Strategy, the world’s largest corporate Bitcoin holder, added more BTC to its balance sheet last week as the US Federal Reserve cut interest rates for the first time this year. Strategy acquired 850 Bitcoin (BTC) for $99.7 million during the week ending Sunday, according to a US Securities and Exchange Commission filing on Monday. The purchase was made at an average price of $117,344 per coin as BTC briefly surged to multi-week highs above $117,000 on Thursday following the Fed’s 25 basis point interest rate cut, according to CoinGecko data. Read more
The purchase as part of the company’s accumulation strategy started in 2020 has resulted in Strategy holding more than $73 billion worth of BTC. Strategy, the business intelligence company co-founded by Michael Saylor, has increased its Bitcoin holdings to more than $73 billion after a reported purchase as part of its treasury strategy. In a Monday notice, Saylor said the company had acquired 525 Bitcoin (BTC) for about $60 million, given an average price of $114,562 per coin. The additional Bitcoin resulted in Strategy’s holdings totaling 638,985 BTC, worth more than $73 billion at the time of publication. The Bitcoin purchase was part of Strategy’s accumulation strategy, launched in August 2020 with a $250-million BTC investment. Since that initial investment, the company has regularly announced significant BTC buys, including a report of a $450 million purchase at the end of August and early September. Read more