‘If it’s not going to zero, it’s going to a million’: Michael Saylor’s Strategy buys another 592 bitcoin for $40M
Strategy purchased 592 BTC for $39.8 million, bringing its total holdings to 717,722 BTC, while Michael Saylor remains bullish on Bitcoin's long-term prospects.Summary
Strategy, the Bitcoin treasury company, acquired an additional 592 BTC for about $39.8 million between February 17 and 22, funded by proceeds from at-the-market sales of its Class A common stock (MSTR). This purchase increased Strategy's total holdings to 717,722 BTC, costing an average of $76,020 per coin, which currently represents an unrealized loss of roughly $7.1 billion against the current market value.
Co-founder Michael Saylor remains highly optimistic, stating his belief that Bitcoin will either go to zero or a million. He characterized the current market as a "much milder winter" positioned for recovery, citing growing institutional support and technological progress.
Despite Strategy's continued accumulation, the broader cohort of public companies holding Bitcoin as treasury assets (DATs) is showing signs of stress, with many seeing significant share price declines from their peaks due to the sharp sell-off in Bitcoin. Some analysts suggest this stress could lead to further corporate selling and market consolidation.
(Source：The Block)