In a move that can only be described as “boldly going where no sane person would,” Michael Saylor’s Strategy (formerly MicroStrategy, because rebranding is fun) has decided to buy nearly $2 billion worth of Bitcoin. This, despite the fact that the market is currently sweating bullets over US President Donald Trump’s upcoming tariff announcement. Because, you know, when life gives you tariffs, buy Bitcoin. 🚀
Strategy, in its infinite wisdom, has acquired 22,048 Bitcoin (BTC) for $1.92 billion at an average price of approximately $86,969 per Bitcoin. That’s right, folks, they’re now sitting on over 528,000 Bitcoin, acquired for a cool $35.63 billion at an average price of $67,458 per BTC. Michael Saylor, the co-founder of Strategy, announced this in a March 31 X post, presumably while sipping a martini and laughing maniacally. 🍸
Strategy is now the world’s largest corporate Bitcoin holder, having surpassed the 500,000 Bitcoin milestone on March 24. This came just days after Saylor hinted at an upcoming Bitcoin buy, because subtlety is overrated. The company had announced the pricing of its latest tranche of preferred stock on March 21, because why not complicate things further? 🤷♂️
As of now, the firm is up over 21% on its Bitcoin holdings, with an unrealized profit of over $7.7 billion, according to Saylortracker data. That’s right, they’re sitting on a mountain of digital gold, and they’re not even breaking a sweat. 💰
This near $2 billion dip buy comes despite investor concerns related to Trump’s upcoming tariff announcement on April 2. Because, you know, when the world is on fire, why not throw some more money into the flames? The announcement is expected to detail reciprocal trade tariffs targeting top US trading partners, which may increase inflation-related concerns and limit demand for risk assets, such as Bitcoin. But hey, who needs stability when you can have volatility? 🌪️
This is a developing story, and further information will be added as it becomes available. Or not. Who knows? In the meantime, grab some popcorn and watch the chaos unfold. 🍿
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2025-03-31 15:41