Holding firm to the diehard Bitcoin maximalism of its leadership, MicroStrategy has doubled down yet again on the world’s top cryptocurrency, snapping up an additional 3,000 BTC for roughly $155.4 million in cash over the last ten days, according to a U. S. federal government filing.
The purchase brings MicroStrategy’s total Bitcoin position up to a whopping 193,000 BTC, according to Michael Saylor, the company’s co-founder and executive chairman.
Saylor wrote on Twitter Monday that MicroStrategy has shelled out roughly $6.09 billion for its Bitcoin holdings.
At writing, the company’s BTC position is worth far more—$10.28 billion, given the token’s current price of $53,283.
While that would mean a comfy profit of over $4.19 billion if sold, Saylor has repeatedly emphasized that he has no intention of selling off MicroStrategy’s monster Bitcoin position in the short, medium, or even long term.
“I’m going to be buying the top forever,” Saylor said last week. “Bitcoin is the exit strategy.”
In the weeks following the historic approval of spot Bitcoin ETFs on Wall Street, Bitcoin has enjoyed a massive rally, one that has returned the token to highs not seen since its 2021 bull run. In mere months, MicroStrategy’s BTC position—which was purchased for an average price of $31,544 per Bitcoin, according to Saylor—has climbed out from the red, and surged deep into the black.
Further anticipation surrounding the upcoming Bitcoin halving in April—an event that will reduce by 50% the amount of new BTC generated by the token’s miners, thus putting a strain on supply—has fanned hopes that Bitcoin is poised to only climb further.
Last week, Michael Saylor outlined his view that the dwindling supply of Bitcoin, paired with increasing institutional demand for the token via traditional financial products like ETFs, will soon make it “a trillion-dollar asset class….alongside names like Apple, Google, and Microsoft.”
In January, MicroStrategy purchased 850 BTC for $37.5 million. The previous month, it shelled out approximately $616 million for 14,620 BTC.