Morning Minute: Saylor Buys $2.13B in Bitcoin, 9-Month High

MicroStrategy, the enterprise software firm led by executive chairman Michael Saylor, announced late yesterday the completion of its latest massive Bitcoin acquisition, spending approximately $2.13 billion to add 30,500 BTC to its corporate holdings. This acquisition marks one of the largest single corporate purchases in the asset’s history and underscores Saylor’s aggressive, long-term commitment to Bitcoin as a treasury reserve asset.

The purchase, which was executed between the beginning of the month and yesterday’s market close, utilized proceeds from recent convertible note issuances and excess operational cash flow. Following this major acquisition, MicroStrategy’s total Bitcoin holdings now stand at approximately 190,200 BTC, making the company the single largest corporate holder of the digital asset worldwide.

The news served as an immediate catalyst for the broader cryptocurrency market. Bitcoin’s price surged overnight, breaking through key resistance levels near $68,000 and settling just above $70,000 early this morning, marking a new nine-month high. Analysts suggest that the influx of institutional capital, coupled with MicroStrategy’s public declaration of faith in the asset, is driving optimism ahead of the anticipated ‘halving’ event.

Market sentiment remains overwhelmingly positive. Saylor’s continued strategy validates the narrative that Bitcoin is transitioning from a speculative asset to a recognized store of value, attracting increasing interest from institutional funds and sovereign wealth managers globally.

Source: Morning Minute: Saylor Buys $2.13B in Bitcoin, 9-Month High