Michael Saylor’s strategy has just thrown another $100 million into Bitcoin (BTC).
It is the company’s second great shopping respectively after a $101 million purchase last week.
These two big things happened after Strategy’s the first sale of BTC starting in 2022. The company sold 32 BTC worth $2.47 million earlier this month, marking a major change in the company’s tone after Saylor spent years urging investors not to “sell” their BTC.
He said that the sale could happen, however, meaning in a recent call that the company “maybe sell Bitcoin to fund the market – just to send a message that we did it.”
After this week’s purchases, Strategy now has 846,842 Bitcoin worth $56.9 billion at the time of writing. Saylor said that Strategy also increased its investment of US$100 million to US$1.1 billion.
The company’s stock rose more than 8% on Monday and nearly 9% last week, though it fell 24% last month.
Bitcoin itself is up about 5% on Monday and about 6% over the past seven days.
Strategy is the largest Bitcoin company in the world and was the first public company to adopt BTC as its sole reserve asset.
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