Bitcoin addiction? Michael Saylor buys more 15,355 BTC

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The strategy purchased 15,355 Bitcoin tokens at a cost of $1.42 billion, the second huge acquisition for the second week in a row. The company’s executive chairman, Michael Saylor, revealed the acquisition via social media on Monday.

The move further strengthened its strategy as the largest corporate holder of cryptocurrency, with its current holdings worth around $52 billion to 553,555 Bitcoin.

Strategy cuts down the premium price of new Bitcoin Distance

The strategy purchased the latest Bitcoin at an average price of $92,737 per coin, based on Saylor’s declaration. This is well above the average total cost of $68,459 per BTC. The acquisition comes after what appears to be the monthly cycle in which the strategy makes its biggest purchases towards the monthly tail end.

The company has been rebranded from MicroStrategy and diversified towards business intelligence and cryptographic development, and has purchased Bitcoin three times in the past five weeks. The report shows that this powerful purchasing strategy is successful. This is what their holdings have so far provided a 14% return.

Source: Strategy

Strategy’s Crypto Holdings warns other corporate investors

The value of Strategy’s Bitcoin Holdings is far ahead of other publicly traded companies investing in cryptocurrency. According to Bitcoin Treasuries figures, the strategy currently owns 505,955 more BTC than the runner-up Marathon Digital, and more than 522,055 Twenty Twenty One Capital.

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BTC is currently trading at $94,712. Chart: TradingView

The strategy has invested a total of nearly $38 billion in crypto purchases. Currently, the company has an unrealized profit of $14 billion, as it is worth more than $50 billion in holdings. This profit is only on paper until the company sells some of its shares.

The end of the month purchase pattern appears

A cryptocurrency expert known as Ja Maartunn of Cryptoquant pointed to the habit of making the biggest purchase at the end of the month. The company acquired 20,365 Bitcoin ($19.9 billion) in late February and 22,048 Bitcoin ($1.92 billion) in late March, following the same trend.

During these end-of-month purchases, strategy purchases never exceeded 7,000 BTC, and we examined analyst comments on the company’s purchasing behavior. This trend means the company could continue to make significant purchases in the next few months.

Unsplash featured images, TradingView charts

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