Michael Saylor, the Strategy Chairman, has recently disclosed the company’s acquisition of 525 additional Bitcoin (BTC), valued at approximately $60.2 million. This purchase prices each coin at about $114,562, and marks a significant moment despite being smaller than the firm’s typical acquisitions.
Following this acquisition, Strategy now boasts a total of 638,985 BTC on its balance sheet, originally purchased for around $47.23 billion at an average price of $73,913 per coin. Notably, the firm has achieved a year-to-date yield of 25.9% on its Bitcoin investments, underscoring its confidence in the cryptocurrency’s future potential.
However, this latest move has been met with skepticism from some members of the investment community. Angel investor Jason Calacanis publicly criticized Strategy, advising investors to steer clear of the firm and instead invest directly in Bitcoin. He argued that Saylor’s aggressive accumulation strategy may be undermining the credibility of the Bitcoin brand itself.
This criticism comes on the heels of Strategy’s failure to secure a spot on the prestigious S&P 500 index, despite fulfilling several of the necessary criteria. Following the announcement of this setback, shares of Strategy experienced a dip of up to 2%. Analysts from JPMorgan have corroborated this view, identifying the non-inclusion as a significant hurdle for the company.
Despite facing scrutiny and challenges, Saylor appears resolute in his support for Bitcoin. He recently shared an image of the latest iPhone 17 Pro in an orange hue—an intentional nod to the Bitcoin community, symbolizing his ongoing commitment to the cryptocurrency. The combination of Saylor’s latest acquisition and his vocal support suggests that, despite external pressures, Strategy remains steadfast in its Bitcoin investments.
