Why Buy Bitcoin? Michael Saylor Does It Like It’s Hot—$555M Hot!

In the quiet labyrinth of the markets, Strategy — known once as MicroStrategy but now grown bold and restless — pursues what some might call folly, yet calls, with whispered fervor, accumulation. Not a mere handful of coins, but an empire in Bitcoin, the digital king cloaked in mystery and madness.

Thanks to the crystal ball of Lookonchain, they say the grand conductor, Michael Saylor, has amassed something close to $47 billion—a number so large it ticks off the calculators and raises eyebrows with a mischievous grin. Just last week, he parted ways with half a billion dollars, buying 6,556 BTC at the princely average of $84,785 each. One might wonder if even the coins felt dizzy.

“Strategy bought another 6,556 BTC ($555.85M) last week at an average price of $84,785,” the murmurs go on.

They currently cradle 538,200 BTC, worth near $46.83 billion, bought at an average price of $67,766. And lest you think it’s all labors lost, an unrealized profit of $10.36 billion smiles slyly from the ledger.

Mid-April brought another parade of purchase — 3,459 BTC for about $285.8 million—steady as a metronome keeping time with plans to raise more capital. The world’s Bitcoin supply watches with a 2% share now held by this singular entity, a quiet giant in a digital sea.

The stock? Oh, it dances against the market’s downward pull. MSTR, the ticker notes, is up 1.9% today, trading at $323, as if mocking the fickle tides of finance.

Saylor, like a proud patriarch, points out that over 13,000 institutions and 814,000 retail accounts own a piece of this Bitcoin saga directly. Indirectly, about 55 million souls rest in the comfort of ETFs, mutual funds, pensions, and insurance portfolios, unaware or amused, depending on the day.

February brought a grand announcement: a stock offering to fuel more coin hoarding. Last month, a swift $21 billion in preferred stock was sold, each cent destined not for champagne but more digital gold.

In the end, one might ask—is this sheer lunacy, genius, or just the whimsy of a man chasing shadows bathed in the glow of a vanishing moon? The answer, like Bitcoin itself, remains as elusive as ever. 😏💰

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2025-04-21 21:46