Following a series of intriguing hints, Michael Saylor, head of MicroStrategy – a company with the largest Bitcoin holdings – has announced a significant purchase of the cryptocurrency.
There was speculation about whether MicroStrategy would buy more Bitcoin after recently losing $12 billion in value. However, that speculation ended on Monday, June 8th, when Saylor announced the company had purchased 1,550 more Bitcoin.
Saylor tops Bitcoin treasury
MicroStrategy has bought an additional 1,550 Bitcoin for approximately $101 million, according to a recent announcement from Saylor, increasing the company’s total Bitcoin holdings.
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Between June 1st and 7th, when Bitcoin prices were fluctuating wildly and briefly hit a low of $59,000 for the year, the purchase was made at an average price of $65,332 per Bitcoin.
MicroStrategy has continued to buy Bitcoin, even while facing financial difficulties, and now holds a total of 845,256 BTC.
Saylor is famous for his unwavering belief in Bitcoin, even when prices fall. However, his company, MicroStrategy, is currently facing a roughly $12 billion loss on its Bitcoin investments, leading to questions about their recent additional purchases.
Peter Schiff reacts to MicroStrategy’s latest Bitcoin buy
Michael Saylor’s latest large purchase of Bitcoin has again sparked criticism from Peter Schiff, a well-known Bitcoin skeptic, who believes it’s an attempt to fix a problem or mitigate negative publicity.
Schiff highlighted that MicroStrategy spent $101 million to buy 1,550 Bitcoin, but at the same time, they also added $100 million to their holdings of U.S. dollars.
According to Schiff, MicroStrategy is choosing to raise money by selling shares of its stock instead of Bitcoin, indicating the company is still hesitant or unable to sell its Bitcoin to cover expenses.
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2026-06-08 18:10