Jakarta, Pintu News – Strategist Michael Saylor, formerly known as MicroStrategy, has made another Bitcoin purchase.
This time, the company bought 1,895 BTC worth $180 million, bringing their total Bitcoin holdings to 555,450 BTC.
In a press release, Strategy announced that it had purchased 1,895 BTC worth $180.3 million at an average price of $95,167 per Bitcoin. The company has also achieved a BTC yield of 14.0% since the beginning of the year (YTD).
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Meanwhile, MicroStrategy now owns 555,450 BTC, which it acquired at a cost of $38.08 billion at an average price of $68,550 per Bitcoin.
Strategy has also continued to be active, buying Bitcoin almost every week since the year began. Last week, Michael Saylor’s firm bought 15,355 Bitcoins for $1.42 billion, which is one of their biggest purchases this year.
Amidst this latest buyout, MicroStrategy’s share price took a hit. Nasdaq data shows that the company’s shares are down almost 3% in pre-market trading, trading around $383.
However, it is worth noting that MSTR’s share price has risen by more than 36% since the beginning of the year. The stock also remains the best-performing asset among all major assets since Saylor and his company adopted the Bitcoin Strategy in 2020.
To give you an idea, the share price has risen 210% in the past year.
With the success of Strategy’s Bitcoin plan, Bernstein analysts predict that listed companies will follow suit and allocate around $205 billion to BTC acquisitions.
They believe that this capital allocation will be led by small, low-growth companies seeking to replicate MicroStrategy’s Bitcoin treasury model.
For their optimistic scenario, Bernstein estimates that there will be an additional $124 billion flow of funds from MSTR alone, especially after MicroStrategy increased their capital raising plan to $84 billion by 2027 for Bitcoin purchases. The company has already reached 32% of that target in just six months.
Read also: Bitcoin Holds Strong at $94K — Is a Massive Bull Run Just Around the Corner? (May 6)
Meanwhile, analysts explain why low-growth companies are more likely to adopt this strategy, noting that such companies with high cash holdings fit better with MSTR’s Bitcoin strategy guidelines.
These companies don’t seem to have a clear path to value creation, and the success of the Strategy provides them with a rare growth path.
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