Michael Saylor’s MicroStrategy Now Holds 553,555 BTC—Wall Street Still Doesn’t Get It

MicroStrategy just added another 25,250 BTC to its treasury—because apparently, buying the dip is easier than explaining Bitcoin to your board.

The enterprise software-turned-Bitcoin-hoarder now holds $38 billion in crypto at current prices. Saylor’s strategy? Keep stacking while traditional finance scrambles to ’hedge inflation’ with gold ETFs and municipal bonds.

Meanwhile, the SEC still hasn’t approved a spot Bitcoin ETF. Maybe they’re waiting for MicroStrategy to hit 1 million BTC first.

Considering that the company averaged $92,737 for each bitcoin, it is reasonable to assume that the purchase was completed towards the end of the previous business week when the cryptocurrency was trading around those levels.

Strategy has expanded its stash to 553,555 BTC worth $38 billion.

The Lookonchain data showed that the unrealized profit is worth $15 billion.

More than 25,000 tokens would have been purchased in April. This accumulation is lower than in March (29,000 tokens) and February (28,000). Nonetheless, April would have enabled the acquisition of more BTC than January (23,600 coins).

BlackRock and Strategy now have the most Bitcoin, but they will probably grow even more shortly.

Michael Saylor’s company recently revealed plans to issue shares worth $1 billion

In the case of Bitcoin Cash ETFs offered by BlackRock and its competitors, these companies do not own the bitcoins included in the exchange-traded funds; instead, the investors in the ETFs are the actual owners.

If these ETF issuers behave unethically or misuse their authority, holders can withdraw and seek alternative opportunities. Capital inflows into BlackRock’s iShares Bitcoin Trust ETF increased by $1.5 billion last week.