Michael Saylor Reveals $5.1B Bitcoin Profit For Strategy, MSTR Stock Gains
Highlights
- Michael Saylor announced that Strategy's BTC gain has surpassed $5.1 billion year-to-date.
- The MSTR stock continued rising following the announcement.
- However, the company halted its Bitcoin buying spree this week.
Michael Saylor revealed that Strategy Inc. has already reported a year-to-date gain in Bitcoin of about $5.1 billion. It shows the impact of the company’s BTC exposure despite the latest halt in buying activity.
Michael Saylor Unveils BTC Gain Figures
In a statement posted on X, Saylor stated, “$MSTR has generated ₿63,410 of BTC Gain YTD (~$5.1 billion) and now holds 3.9% of the BTC network.” The update also spotlights the size of the Bitcoin reserves held by the company.
According to on-chain tracking crypto tools, Strategy holds 818,334 BTC accumulated at an average price of 75,537 per coin. At current BTC price, this stash is worth around $66.70 billion.
The announcement is a follow-up after the company announced attracting new capital via its current at-the-market equity program. According to a recent filing, Strategy has raised $82 million through the sale of common stock.
This amount would have been used to purchase over 1,000 BTC according to the current prices. Nevertheless, the company has not chosen to invest the proceeds into Bitcoin over the last week.
The pause was confirmed by Michael Saylor himself, who said there were “no buys this week.” His statement came in contrast to a streak of steady accumulation that had occurred the previous four weeks.
The most recent BTC the company acquired before the pause was of 3,273 BTC worth $255 million. At the time itself, it hinted at a slowdown in Strategy’s BTC accumulation spree. It depicted a 90% decline from the $2.54 billion purchase that the company announced earlier in April.
MSTR Stock Rises Today
Although the buying activity slowed down, the MSTR stock showed positive momentum. At press time, the MSTR stock price was up 1.01% to $185.65 on Tuesday as Michael Saylor announced the humungous Bitcoin profit.
Institutional exposure into the stock has also surged. Texas State Teachers Retirement Fund revealed the indirect exposure to Bitcoin, by buying $14.4 million worth of MSTR shares.
Instant Currency Exchange at BestChange with Ease
- Compare Rates Across 1000+ Exchanges
- Access 250+ Cryptocurrencies & Pairs
- Save Time with Real-Time Price Tracking
Why Trust CoinGape
CoinGape has covered the cryptocurrency industry since 2017, aiming to provide informative insights Read more… to our readers. Our journal analysts bring years of experience in market analysis and blockchain technology to ensure factual accuracy and balanced reporting. By following our Editorial Policy, our writers verify every source, fact-check each story, rely on reputable sources, and attribute quotes and media correctly. We also follow a rigorous Review Methodology when evaluating exchanges and tools. From emerging blockchain projects and coin launches to industry events and technical developments, we cover all facets of the digital asset space with unwavering commitment to timely, relevant information.
Delivered every day.
- Insights that move markets
- 100,000 active subscribers
