MicroStrategy Signals Major Bitcoin Purchase

MicroStrategy Executive Chairman Michael Saylor signaled on Sunday that the company is preparing another major Bitcoin purchase, posting "think bigger" alongside a chart tracking its acquisition history, a move that has preceded every significant buy since 2020. The Tysons Corner, Virginia-based firm, the largest corporate holder of the cryptocurrency, continues its aggressive accumulation strategy despite holding Bitcoin valued billions below its average purchase price.

MicroStrategy's most recent disclosed purchase occurred on April 6, when it acquired 4,871 Bitcoin for 329.8 million dollars, bringing its total holdings to 766,970 coins. The company has made 105 such purchases since beginning its Bitcoin strategy in August 2020. According to a first-quarter filing with the U.S. Securities and Exchange Commission, the average acquisition cost stands at 75,644 dollars per coin, resulting in approximately 14.5 billion dollars in unrealized losses as Bitcoin traded around 71,800 dollars on Monday, up 7.9 percent for the week and holding above 70,000 dollars for four straight sessions following an Iran ceasefire announcement.

The firm's buying pace significantly outstrips new...