Michael Saylor's Bitcoin treasury company has more than doubled its Bitcoin holdings since last November, when U.S. President Trump won the federal election by a landslide.
Since Trump's election victory, Strategy has accumulated 376,571 Bitcoins (BTC), valued at $4.32 billion at current market prices. Before Trump's victory, it took Strategy over four years to accumulate 252,220 BTC.
This means the company has accumulated 60% of its current reserve of 628,791 BTC in the past nine months, coinciding with Trump introducing a series of crypto-friendly regulations and reversing the enforcement policies of the Biden era against the industry.
On Monday, Strategy disclosed in a filing with the U.S. Securities and Exchange Commission (SEC) that it purchased 21,021 BTC in the past week, valued at $2.46 billion, marking the third-largest purchase by dollar value since it began accumulating this cryptocurrency five years ago.
The company has been buying at historically high prices, with the latest acquisition averaging $117,256 per coin, demonstrating continued confidence in its Bitcoin strategy despite the high valuations.
According to company records, the company made two large purchases after the November U.S. election, buying 55,500 BTC for $5.4 billion and 51,780 BTC for $4.6 billion.
Strategy's Executive Chairman Saylor described Bitcoin as a "freedom virus" on a Fox Business Channel program on Monday.
"It's like a swarm of hornets, and Strategy aims to provide double the returns compared to holding BTC alone by issuing 'credit instruments' from its Bitcoin profits."
Today, @cvpayne and I break down why Bitcoin is a swarm of hornets, how to outperform $BTC with $MSTR, beat $USD money markets with $STRC, and ride the wave of crypto innovation. pic.twitter.com/3JzMT1lQk9
"I think Wall Street still doesn't quite understand," Saylor continued, adding that the company is currently the fourth most profitable financial company in the U.S.
When asked about the series of companies now adopting Bitcoin treasuries, Saylor said:
Strategy reported a record $10 billion profit for the second quarter last week.
Strategy's Bitcoin holdings are now valued at $72.2 billion, purchased at an average cost of $73,277 per coin. It holds about 3.16% of the total circulating supply of BTC.
Related: Crypto is rising, and so are the risks: A comprehensive review of Trump's first six months in office
Original article: “Michael Saylor's Strategy Doubled Bitcoin (BTC) Holdings Since Trump's Election”
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