The strategy co-founder Michael Saylor signaled the company’s imminent purchase of Bitcoin (BTC) amid the recent DIP from the all-time high of $112,000, reaching May 22.
“I just buy bitcoin with money I can’t afford to lose,” Saylor wrote to 4.3 million followers on the X-Post.
The company, which recently purchased 7,390 BTC on May 19, is worth nearly $765 million, bringing its total strategy holdings to 576,230 BTC.
If the strategy completes the acquisition on May 26th, it marks the company’s seventh consecutive week of Bitcoin purchases.
The strategy has become synonymous with Bitcoin, as the company stacks up a massive amount of BTC for the Corporate Treasury, encourages other companies to pivot into Bitcoin’s financial plans, creates sustained demand for digital assets from institutional players, and helps to strengthen BTC prices.
Related: Jim Chanos bets against Bitcoin and strategy
Will BTC drive its strategy to $10 trillion companies and leave other companies in the dust?
Market analyst Jeff Walton recently said the strategy could become a $10 trillion company and could potentially order the title of the world’s most valuable public company due to an increase in Bitcoin stockpile.
“The strategy holds in multiples the best assets and most untouched collateral on the planet than any other company,” Walton told the Financial Times in a documentary about the company.
Analysts added that most companies typically face the challenge of raising hundreds of millions of dollars of capital, but the strategy was able to raise billions of dollars in less than two months.
https://www.youtube.com/watch?v=ESB74SYK828
While most companies spend this capital on overhauling production processes or operating costs, the strategy uses depreciation collected from creditors and equity holders to purchase assets that are quickly valuated for the balance sheet.
Michael Saylor previously predicted that Bitcoin prices will reach millions of dollars per coin in the coming decades, and that supply-capted assets feature asymmetrical upsides for all Fiat currencies with no supply caps.
However, Bitcoin has struggled to reach the $150,000 level in the short term. Saylor denounced low price action against investors gaining profits early and turning from BTC due to no long-term convictions.
Magazine: Metric Signal $250K Bitcoin is the “best case”.
