Highlights
- Strategy buys 245 more Bitcoin worth $26 million to now holding 592,345 BTC.
- Saylor says he’ll keep buying no matter the price. He thinks Bitcoin could hit $21 million in 21 years.
- People worry Strategy’s big buys could cause a Bitcoin shortage.
Strategy, the biggest public Bitcoin holder, has bought 245 more Bitcoin worth $26 million, taking advantage of last week’s price dip caused by rising global tensions.
The company paid an average of $105,856 per coin, according to its latest SEC filing. Bitcoin fell from around $108,900 on June 16 to below $99,000 during the week, allowing Strategy to add to its holdings.
Strategy now owns 592,345 BTC, purchased for about $41.9 billion at an average price of $70,681 each. This latest buy is also one of Strategy’s smallest in months, similar to its March purchase of 130 BTC.
Some wonder why the company didn’t buy more, given the recent price drop and ongoing uncertainty in the market.
Saylor Sticks to His Plan: Keep Buying Bitcoin
Meanwhile, Strategy sticks to Michael Saylor’s plan to keep buying even at high prices. Saylor says he’s ready to buy Bitcoin at $1 million per coin one day, even spending $1 billion a day if needed.
The latest 245 BTC purchase, Strategy’s Bitcoin investment has gained 19.2% so far this year, slightly up from the 19.19% gain after its $1 billion BTC buy on June 16. The company is aiming for a 25% gain by the end of 2025, a target it raised from 15% back in May.
The news comes just days after Saylor raised his long-term prediction, saying Bitcoin could hit $21 million per coin within 21 years.
Saylor has turned Strategy into a Bitcoin-buying machine. Since 2020, the company has used loans, stock sales, and company cash to buy more and more BTC.
And the buying hasn’t stopped. Some worry this could cause a Bitcoin supply shortage, making it harder for new investors and small traders to get in.
