Gain Exclusive Access to the Yellow Network WaitlistMicroStrategy's Massive $1.5B Bitcoin Buy Marks First Above $100K
MicroStrategy, led by the fervent Bitcoin advocate Michael Saylor, has boldly announced a significant bitcoin acquisition despite the asset's price surpassing $100,000 for the first time. This remarkable purchase, however, has attracted fresh criticism from well-known Bitcoin skeptic Peter Schiff.
In a strategic move, MicroStrategy acquired 15,350 BTC, investing approximately $1.5 billion at an average price of $103,386 per bitcoin.
With this transaction, the company's total Bitcoin holdings have soared to 439,000 BTC. This arsenal is now valued well over $44 billion, although the company shelled out $27.1 billion to amass it. Impressively, MicroStrategy’s quarterly BTC yield surged to 46.4%, with an annual yield exceeding 72%.
Sticking to its recent pattern, the company revealed this major acquisition on Monday, continuing a string of billion-dollar purchases. Predictably, Peter Schiff, a vocal critic of Bitcoin, seized the moment to express skepticism.
He argued that Bitcoin prices might tumble when MicroStrategy halts its purchasing spree. In a pointed comment, Schiff remarked on the potential market impacts should the company be compelled to cease acquisitions or liquidate assets.
This announcement marked a pioneering moment for MicroStrategy as it embraced the milestone of Bitcoin prices breaching the $100,000 threshold. Despite market volatility and external critiques, the firm remains unwavering in its Bitcoin strategy, as highlighted in Saylor’s latest disclosure on social media.
