Strategy buys Bitcoin again: what does this mean for the price?

Bitcoin maximalist Michael Saylor does it again: his company Strategy has hit the buy button again and added 4,020 BTC to its already colossal crypto stash.

Bitcoin-maximalist Michael Saylor is at it again: his company Strategy has pressed the buy button again and added 4,020 BTC to its already colossal crypto stash. The purchase, worth about $427.1 million at an average price of $106,237 per BTC, was officially confirmed on Monday via a press release.

With this deal, Strategy's total BTC holdings reach an impressive 580,250 Bitcoin — nearly 3 percent of the total circulating supply. The average purchase price across all investments is now $69,979 per Bitcoin. Add in transaction costs and expenses, and you're looking at a total of $40.61 billion. That’s offset by paper profits of $22.7 billion right now. Not a bad return for an “old software guy.”

The buys were largely financed through stock sales. Between May 19 and May 23, Strategy sold 847,000 shares of its Class A common stock (MSTR), yielding a net proceeds of $348.7 million. Additionally, less than $80 million came in from the sale of STRK and STRF preferred shares.

That Saylor isn’t stopping anytime soon was hinted by him on Sunday. In an update to the Strategy BTC tracker, he cryptically wrote: "I only buy Bitcoin with money I can’t afford to lose." Sounds like a gambler on a mission, or a missionary with deep pockets.

Yet criticism grows over BTC centralization in the hands of a single party. While several firms hold Bitcoin on their balance sheets, none can match Strategy’s firepower.

Meanwhile, Bitcoin’s price keeps hovering around $110,000. Investors hope the recent suspension of U.S. import tariffs on EU goods will give the market wind. On top of that, an anonymous crypto whale is keeping the market on edge: it opened a leveraged long of $1.2 billion with 40x leverage, an all-in bet on even higher BTC prices.