MicroStrategy buys 15,350 BTC for $1.5B with BTC over $100K

MicroStrategy has announced the acquisition of 15,350 BTC for $1.5 billion at an average price of $103,386 per Bitcoin (CRYPTO:BTC), marking the first time the company has purchased Bitcoin with the asset priced above $100,000.

The NASDAQ-listed firm, led by Michael Saylor, now holds a total of 439,000 BTC, with a current valuation of more than $44 billion at today’s prices.

The total amount spent to acquire these Bitcoin assets has reached approximately $27.1 billion.

MicroStrategy’s Bitcoin holdings have been a major part of the company’s strategy in recent years.

As of the past quarter, the firm’s yield on Bitcoin has risen by 46.4%, with the total annual yield surpassing 72%.

This reflects the company’s ongoing commitment to its Bitcoin investment despite fluctuating market conditions.

This latest purchase follows the trend set by MicroStrategy over the past several weeks, where it has consistently announced major Bitcoin buys on Mondays, typically worth more than $1 billion.

However, the company’s large purchases have not gone without criticism.

“Just as I suspected. Imagine how much lower the Bitcoin price will fall when you stop buying. Then imagine how much lower it will go when creditors force you to sell,” Peter Schiff, a vocal critic of Bitcoin, responded to Saylor’s post about the new acquisition.

Schiff, who has long been critical of Bitcoin, continues to question the sustainability of MicroStrategy’s strategy and the potential consequences of their continued purchases.

At the time of reporting, the price of Bitcoin (BTC) was $105,957.