HomeBitcoin NewsSaylor Doubles Down: 850 BTC Purchased Amid Bitcoin and MSTR Price Drop

Saylor Doubles Down: 850 BTC Purchased Amid Bitcoin and MSTR Price Drop

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  • Strategy has purchased 850 BTC worth $99.7 million, bringing its total holdings to 639,835 BTC, even as Bitcoin and MSTR stock prices continue to decline.

This marks the company’s eighth consecutive weekly Bitcoin buy, underscoring Michael Saylor’s commitment to long-term accumulation despite market volatility.


Strategy has once again demonstrated its unwavering commitment to Bitcoin, acquiring 850 BTC between September 15 and 21 despite ongoing market turbulence. The purchase comes at a time when both Bitcoin and MicroStrategy’s stock (MSTR) are experiencing notable declines.

MicroStrategy Acquires 850 BTC Worth $99.7 Million

In its latest press release, MicroStrategy revealed that it bought 850 BTC for approximately $99.7 million at an average price of $117,344 per coin. This brings the firm’s total Bitcoin holdings to a staggering 639,835 BTC, acquired at a cumulative cost of $47.33 billion, with an average purchase price of $73,971 per Bitcoin.

Interestingly, the company reported a yield of 26% on its Bitcoin strategy, further strengthening its case for ongoing accumulation. To fund the purchase, MicroStrategy sold $80.6 million worth of MSTR shares and $19.4 million worth of STRF shares, according to its recent SEC filing.

Michael Saylor, the company’s co-founder and executive chairman, hinted at the move a day earlier on X. His cryptic post, “The Orange Dots go up and to the right”, was widely interpreted as another bullish signal that the company was preparing to expand its already massive Bitcoin treasury.

The Eighth Consecutive Weekly Bitcoin Purchase

This latest acquisition marks the eighth week in a row that MicroStrategy has bought Bitcoin, extending a consistent accumulation spree that began in late July. Just last week, the company added 525 BTC for $60 million, one of its smaller weekly buys in 2024. Despite price volatility, MicroStrategy’s message to the market remains clear: it views Bitcoin as the ultimate long-term store of value.

MSTR Stock and Bitcoin Slide Lower

MicroStrategy’s decision to expand its Bitcoin position comes amid weakness in both the company’s stock and the broader crypto market. According to TradingView data, MSTR is currently trading at around $336, down over 2% from last week’s close of $344. The stock also touched a five-month low of $323 last week, though it remains up roughly 14% year-to-date.

Bitcoin itself is struggling to hold above $113,000, dropping over 2% in the past 24 hours. Analysts attribute the broader crypto downturn to rising U.S. Treasury yields and macroeconomic headwinds. Notably, Bitcoin skeptic Peter Schiff has suggested that BTC could tumble below $100,000 even as gold surges toward $4,000.

Despite these short-term declines, Saylor and MicroStrategy continue to signal unwavering faith in Bitcoin’s future. By doubling down during a downturn, the company is once again betting that volatility will give way to substantial long-term gains. For now, MicroStrategy’s strategy is clear: keep stacking Bitcoin, no matter the price action.

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Dennis Grace
Dennis Grace
Peter Macharia is a crypto enthusiast and seasoned writer who specializes in blockchain technology, digital assets, and decentralized finance. He has a talent for simplifying complex concepts and turning them into engaging informative content. With a deep understanding of the industry, Peter delivers clear and precise analysis that resonates with both beginners and experienced crypto enthusiasts.
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