Michael Saylor’s Strategy Adds 155 BTC, MSTR Stock Rebounds

Michael Saylor’s Strategy, previously MicroStrategy, has again bought more BTC for its Bitcoin treasury. This development comes as the Bitcoin price eyes new all-time highs (ATHs). Meanwhile, the MSTR stock has rebounded from its closing price of $395 last week.

Strategy Acquires 155 BTC for $18 Million

In a press release, the company announced that it had acquired 155 BTC for $18 million at an average price of $116,401 per Bitcoin, achieving a BTC yield of 25% year-to-date (YTD). It now holds 628,946 BTC, which it acquired for $46.09 billion at an average price of $73,288 per Bitcoin.

Notably, this is one of Strategy’s smallest purchases this year. Its smallest purchase came when it bought 130 BTC for $10.7 million, earlier in March. Meanwhile, this purchase is smaller than the 245 BTC buy it made in June.

The SEC filing showed that the company used proceeds from the sale of its STRF stock to fund this Bitcoin purchase. It sold 115,169 shares and raised net proceeds of $13.6 million.

Meanwhile, it is worth mentioning that Saylor had hinted about the purchase yesterday in his usual fashion. In an X post, he remarked that one would continue to make money as long as they don’t stop buying BTC, indicating that they added more to their Bitcoin stack.

The purchase comes just a week after Strategy made its largest purchase this year, acquiring 21,021 Bitcoin for $2.46 billion. Meanwhile, the company already filed a $4.2 billion STR offering and plans to use the net proceeds to buy more BTC in the future.

MSTR Stock Up 3% As Bitcoin Rises

Amid the announcement of the Bitcoin purchase, the MSTR stock is up today. TradingView data shows that the stock is currently trading at around $406, up 3% from its last week’s close of $395.

The Strategy stock rebound follows the Bitcoin price rally over the weekend. As CoinGape reported, the BTC price had broken above $122,000 earlier in the morning, eyeing a new all-time high.

Given Saylor Company’s Bitcoin exposure, the MSTR stock shares a strong positive correlation with BTC. The stock is up over 31% YTD, outperforming the leading crypto in the process.

Notably, yesterday marked five years since Strategy adopted the Bitcoin model. The MSTR stock has been the best-performing major asset since then, delivering a 100% average annual return during this period. Saylor has recently quipped about buying Bitcoin sooner than when they did. His company was, however, the first to adopt a BTC treasury, with several other companies only recently following suit.

Strategy has raised $46 billion through BTC-backed equity and credit. Its latest Bitcoin-backed security is the STRC stock, whose initial public offering is the largest this year. Strategy raised just over $2.5 billion from the offering.