Michael Saylor Buys 21K BTC for 2.46 Billion

Michael Saylor, co-founder and president of Strategy (formerly MicroStrategy), continues to strengthen his reputation as the most active corporate investor in Bitcoin. Between 28 July and 3 August, the company purchased 21,021 BTC worth $2.46 billion, at an average price of about $117,256 per coin. This is the third largest Bitcoin purchase in Strategy's history.

This brings the total volume of Bitcoin held on the company's balance sheet to 628,791 BTC. The market value of this portfolio exceeds $72.5 billion, while the total cost amounts to approximately $46 billion. Despite the purchase coming at a time of high prices, Saylor demonstrates confidence in the long-term sustainability of the premier cryptocurrency.

To finance the large-scale operation, a multifaceted strategy was used. In addition to issuing debt securities, the company introduced a new instrument: preference shares, called 'Stretch' by Saylor. He also emphasised that he had no intention of issuing ordinary shares until their value reached at least 2.5 times the value of net assets per share. Exceptions are only debt service requirements or dividend payments on preferred shares.

This approach is aimed at preserving capital and protecting investors from excessive share dilution. At the same time, the strategy has proven to be sustainable: operating revenues from the core business, namely analytical solutions, cover all interest and dividend payments.

In the second quarter of this year, Strategy recorded an unrealised gain of USD 14 billion, due to the rising market price of Bitcoin and a new valuation policy for digital assets. This significantly strengthened the company's financial position and boosted its credit rating.

Michael Saylor Reinforces Strategy's Leadership Role in Corporate Investments in Bitcoin

Investors reacted positively to the purchase. Strategy's shares rose 4.8% to $384.39, while Bitcoin rose nearly 1% to $115,310 on the same day. Market participants interpreted Saylor's actions as confirmation that Bitcoin is increasingly being viewed not only as a speculative asset, but also as a strategic element in corporate treasuries.

With the steady accumulation of cryptocurrencies, Strategy maintains its leadership position among public companies in terms of the volume of Bitcoin held. Many other organisations, inspired by its actions, have begun adding crypto-assets to their balance sheets, but so far none have come close to Strategy's scale. This consistent and aggressive accumulation sets a benchmark in the corporate world, demonstrating a bold, long-term vision. It also reinforces the idea that Bitcoin can serve as a viable treasury reserve asset in a diversified portfolio.

In the end, Michael Saylor continues to influence not only the Bitcoin market, but also the entire conception of corporate investment in digital assets. His strategy demonstrates how financial instruments can be used to accumulate cryptocurrencies over the long term, while taking into account the risks and interests of shareholders.