I noticed yesterday in the news feed about MicroStrategy — a company that bought Bitcoin worth $1.28 billion in a week. That’s already 17,994 BTC added to their portfolio. Overall, they now hold about 738,000 Bitcoins — a significant volume.

All of this is under the leadership of Michael Saylor, who clearly isn’t backing down from his accumulation strategy. The average purchase price was around $71,000 per coin. Interestingly, they financed this by selling shares — $900 million in common stock and another $377 million in preferred stock.

Currently, Bitcoin is trading around $72,000, so their position looks solid. Michael Saylor clearly believes in the long-term potential. Such large-scale purchases by major companies usually signal confidence in the asset. It’s interesting to observe how MicroStrategy’s strategy influences the market — when such a player starts accumulating in volume, it definitely doesn’t go unnoticed by the rest of the market.