Michael Saylor’s Strategy just dropped another $100 million into Bitcoin (BTC).
It’s the firm’s second large buy in a row after a $101 million purchase last week.
The two sizeable acquisitions materialized on the heels of Strategy’s first BTC sale since 2022. The firm sold 32 BTC worth $2.47 million earlier this month, marking a dramatic shift in tone for the company after Saylor spent years encouraging investors to “never sell” their BTC.
He did tip that a sale could happen, however, suggesting in a recent earnings call that the firm would “probably sell some Bitcoin to fund a dividend just to inoculate the market – just to send the message that we did it.”
After this week’s purchase, Strategy now owns 846,842 Bitcoin worth $56.9 billion at time of writing. Saylor noted that Strategy also increased its US dollar reserve by $100 million to $1.1 billion.
The firm’s stock is up more than 8% on Monday and nearly 9% in the past week, though it remains down by more than 24% in the past month.
Bitcoin itself is up nearly 5% on Monday and nearly 6% in the past seven days.
Strategy is the largest corporate holder of Bitcoin in the world and was the first public company to adopt BTC as its sole treasury reserve asset.
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