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After a period of not buying any Bitcoin (BTC), raising concerns that one of the maiden cryptocurrency’s largest bulls might be losing confidence, Michael Saylor’s MicroStrategy (NASDAQ: MSTR) has broken the streak by purchasing 18,300 BTC and increasing its stash to a whopping 244,800 BTC. As it happens, MicroStrategy bought Bitcoin in the value of around $1.11 billion on September 12, at an average price of $60,408, and has reached a BTC yield of 4.4% quarter-to-date (QTD) and 17% since the year’s start, Saylor said in an X post he published on September 13. Furthermore, the MicroStrategy co-founder and executive chairman stressed that, with the most recent purchase of the flagship decentralized finance (DeFi) asset, his company currently owned 244,800 BTC acquired for $9.45 billion at an average price of $38,585 per Bitcoin. MicroStrategy has acquired 18,300 BTC for ~$1.11 billion at ~$60,408 per #bitcoin and has achieved BTC Yield of 4.4% QTD and 17.0% YTD. As of 9/12/2024, we hodl 244,800 $BTC acquired for ~$9.45 billion at ~$38,585 per bitcoin. $MSTR https://t.co/WBBRSKxA1U — Michael Saylor⚡️ (@saylor) September 13, 2024 MicroStrategy breaks the streak Interestingly, just a week ago, trading expert Alan Santana pointed out that Saylor “hasn’t been buying any Bitcoins” lately, wondering if the people who base their bullish or bearish sentiment on MicroStrategy’s Bitcoin trading habits might be losing confidence in BTC’s ability to maintain its current price. At the time, the analyst highlighted the indicators signaling Bitcoin’s potential crash toward $42,000 but also observed that “once the correction is over, we will be sharing bullish charts, LONG, until late 2025” and that “it will be awesome,” as Finbold reported on September 4. As a reminder, Saylor led MicroStrategy to adopt the Bitcoin strategy in August 2020, praising BTC as an “economic engine based on a truth…

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Filed under: News - @ September 13, 2024 2:27 pm