Michael Saylor revealed that Strategy Inc. has already reported a year-to-date gain in Bitcoin of about $5.1 billion. It shows the impact of the company’s BTC exposure despite the latest halt in buying activity.
Michael Saylor Unveils BTC Gain Figures
In a statement posted on X, Saylor stated, “$MSTR has generated ₿63,410 of BTC Gain YTD (~$5.1 billion) and now holds 3.9% of the BTC network.” The update also spotlights the size of the Bitcoin reserves held by the company.
Strategy’s BTC gain data. Source: Michael Saylor | XAccording to on-chain tracking crypto tools, Strategy holds 818,334 BTC accumulated at an average price of 75,537 per coin. At current BTC price, this stash is worth around $66.70 billion.
The announcement is a follow-up after the company announced attracting new capital via its current at-the-market equity program. According to a recent filing, Strategy has raised $82 million through the sale of common stock.
This amount would have been used to purchase over 1,000 BTC according to the current prices. Nevertheless, the company has not chosen to invest the proceeds into Bitcoin over the last week.
The pause was confirmed by Michael Saylor himself, who said there were “no buys this week.” His statement came in contrast to a streak of steady accumulation that had occurred the previous four weeks.
The most recent BTC the company acquired before the pause was of 3,273 BTC worth $255 million. At the time itself, it hinted at a slowdown in Strategy’s BTC accumulation spree. It depicted a 90% decline from the $2.54 billion purchase that the company announced earlier in April.
MSTR Stock Rises Today
Although the buying activity slowed down, the MSTR stock showed positive momentum. At press time, the MSTR stock price was up 1.01% to $185.65 on Tuesday as Michael Saylor announced the humungous Bitcoin profit.
Institutional exposure into the stock has also surged. Texas State Teachers Retirement Fund revealed the indirect exposure to Bitcoin, by buying $14.4 million worth of MSTR shares.
Source: https://coingape.com/michael-saylor-reveals-5-1b-bitcoin-profit-for-strategy-mstr-stock-gains/
