Michael Saylor’s company, Strategy, announced a major Bitcoin purchase of $1.57 billion. The firm acquired 22,337 BTC at an average price of approximately $70,194 per coin. This acquisition brings Strategy’s total holdings to 761,068 Bitcoin, purchased for a cumulative $57.61 billion at an average cost of about $75,696 each. The purchase coincided with Bitcoin’s price pushing above $74,000, potentially driven by this substantial buy wall.
Michael Saylor took to social media to announce a massive Bitcoin purchase by his firm, Strategy. The company bought 22,337 BTC for a total of $1.57 billion, spending roughly $70,194 per bitcoin.
This acquisition increases Strategy‘s total holdings to 761,068 BTC. These holdings were acquired for approximately $57.61 billion at an average price of $75,696 per bitcoin.
The recent price increase for Bitcoin, which pushed above $74,000, was likely influenced by this significant buy wall. The broader cryptocurrency market also experienced upward momentum alongside Bitcoin’s rise.
Institutional inflows have remained steady alongside this corporate activity. BlackRock’s IBIT spot Bitcoin ETF reported positive flows for five consecutive days, purchasing over $600 million.
