Strategy has made a bold move by acquiring nearly 14,000 Bitcoin in its latest buy-up of the cryptocurrency, a decision that reflects its trust in Michael Saylor’s vision despite fluctuations in prices following the tariff truce. This purchase, announced by Saylor on Monday, propels Strategy’s Bitcoin holdings beyond half a million coins, challenging both regulators and the market.
In a filing with the United States Securities and Exchange Commission (SEC) on May 12, Strategy disclosed the purchase of 13,390 Bitcoin at an average price of $99,856 per coin, totaling $1.34 billion. This acquisition brings the company’s total Bitcoin holdings to 568,840 coins, acquired at an average price of $69,287 per Bitcoin, amounting to $39.41 billion as of May 12.
Strategy’s approach to Bitcoin acquisition has been a point of controversy, with Saylor initiating the organization’s Bitcoin buy-up in 2020. The announcement of this latest purchase comes on the heels of a surge in crypto markets following news of a three-month pause on tariffs between the United States and China, aimed at resolving long-standing trade disputes.
The White House’s decision to halt tariffs temporarily has provided a boost to crypto markets, even as Bitcoin prices experienced a slight drop of over 1.5% after briefly surpassing $105,000 on May 12. Strategy had paused Bitcoin purchases earlier in the year in response to the chaos caused by the launch of Trump’s “Liberation Day” tariffs.
Despite these fluctuations, Saylor remains committed to his Bitcoin buy-up strategy, with a recent post indicating that the Bitcoin treasury company has seen a remarkable increase of over 3,000% since embracing the Bitcoin standard. Saylor has also been vocal about the need for clear crypto policies in the US, participating in the White House’s Crypto Summit in March.
The acquisition of 13,390 Bitcoin in a $1.34 billion blitz underscores Strategy’s confidence in Bitcoin as a long-term investment, even amidst market volatility. This move reaffirms Saylor’s dedication to expanding Strategy’s Bitcoin holdings and shaping the future of cryptocurrency.