MicroStrategy has extended its weekly Bitcoin buying spree for the seventh consecutive day, cementing its position as the largest corporate Bitcoin holder with nearly $45 billion in assets.
MicroStrategy CEO Michael Saylor revealed that the company purchased 5,262 Bitcoin (BTC) for $561 million at an average price of $106,662 before the recent market correction. The Virginia-based software company now holds 444,262 BTC, cementing its lead as the largest institutional Bitcoin holder.
With an initial investment of $27.7 billion, MicroStrategy has recorded nearly $15 billion in unrealized profits at the time of writing, despite last week’s downturn in the cryptocurrency market.
Responses from skeptics citing Bitcoin’s current price compared to MicroStrategy’s purchase price flooded Saylor’s weekly announcement on X.
Following the Federal Reserve’s hawkish stance, a market-wide correction resulted in BTC trading below $95,000 at press time. Critics, including U.S. stockbroker and economist Peter Schiff, criticized Saylor’s actions, calling the latest purchase the company’s smallest in seven weeks. Schiff argued that MicroStrategy should focus on buying on declines to maximize shareholder value.
In addition to the Bitcoin purchase, MicroStrategy disclosed in a Form 8-K…
