Michael Saylor Doubles Down: MicroStrategy Scoops Up $60M in Bitcoin as MSTR Stock Eyes $387 Target

MicroStrategy just dropped another $60 million into Bitcoin—because apparently traditional treasury management is for amateurs.

The Saylor Strategy: Full Send

While CFOs elsewhere fret over bond yields and cash flow, Saylor's playing a different game. His latest purchase pushes MicroStrategy's total Bitcoin holdings to over 214,000 BTC—worth roughly $15 billion at current prices. Not bad for a company that was supposed to be about business intelligence software.

Wall Street Takes Notice

Analysts now project MSTR stock hitting $387 as Bitcoin continues its bull run. The stock's become a leveraged Bitcoin bet—bypassing the need for spot ETFs and giving traders exposure with a side of corporate structure. Because who needs simplicity when you can have a publicly-traded Bitcoin proxy?

Meanwhile, traditional finance pundits still can't decide if this is genius or insanity—which usually means it's working.

Key Insights:

• Strategy acquired 525 Bitcoin for $60.2 million at an average of $114,562 per BTC.
• The firm increased its total Bitcoin treasury to 638,985 BTC.
• Analysts set a higher price targets for MSTR stock, with $387 as next short-term target.

Michael Saylor’s Strategy, the largest Bitcoin treasury, on Monday said it has purchased 525 BTC for $60.2 million. With the latest purchase, the company’s total bitcoin stack rises to 638,985 BTC.

Meanwhile, MSTR stock price remained flat as traders didn’t respond immediately to the announcement. The price is trading at 0.45% in the premarket trading hours, while analysts kept a higher target.

Michael Saylor’s Strategy Expands Bitcoin Holdings to 638,985 BTC

According to a press release on September 15, Strategy purchased an additional 525 BTC at an average price of $114,562 per coin between September 8 and 14. The bitcoin purchases were made using proceeds from the STRF, STRK, and STRD shares at-the-market (ATM) offerings.

Chairman Michael Saylor took to X to reach out to the wider crypto community and shareholders about the latest Bitcoin purchase worth $60.2 million. He revealed that the company has achieved the BTC Yield of 25.9% year-to-date.

With the latest Bitcoin purchase, Strategy has raised its total Bitcoin holdings to 638,985 BTC. These were acquired for $47.23 billion at $73,913 per Bitcoin.

Last week, Michael Saylor’s Strategy announced a purchase of 1,955 BTC for $217.4 million at an average price of $111,196 per BTC.

As per SaylorTracker, Michael Saylor’s Strategy has nearly $31.06 billion in unrealized gains. The company’s holdings are now worth $73.470 billion as compared to its total investment of $47.23 billion.

MSTR Stock Remains Under Pressure

At the time of writing, MSTR stock fell nearly 0.45% to $329.72 in pre-market trading hours. This indicated a negative sentiment among investors continued despite a rebound in Bitcoin.

Michael Saylor’s Strategy (MSTR) stock faced a setback as it missed S&P 500 inclusion again. JPMorgan raised red flags on Strategy and crypto treasury companies.

However, JPMorgan holds $808 million in MSTR shares, as The Coin Republic reported earlier. The firm bought $100 million worth of MSTR shares earlier in February, increasing its total MSTR holdings to $300 million.

Arizona State Retirement Fund (ASRS) and Robeco Institutional Asset Management have disclosed millions in total MSTR purchases in Q2.

However, analysts remain confident about MSTR stock performance in the coming months. TD Cowen reiterated its ‘buy’ rating for a stock price target of $640 and Mark Palmer from Benchmark retained a price target of $705.

Moreover, economist Donald Dean predicted $387 and $457 as MSTR stock price target for short-term. He pointed out that the stock is at the volume shelf and could test support NEAR $325.

However, it WOULD potentially rebound from this area as the price is starting to push above the descending wedge trendline.

Bitcoin Price Eyes $120K

Crypto analysts see strength in Bitcoin price and remain confident on upside to $120K amid spot Bitcoin ETF inflows, upcoming Fed rate cut, and whale accumulations to support a recovery.

Popular analyst Rekt Capital pointed out bitcoin price weekly closed above $114K. This means BTC is one step closer to reclaiming its re-accumulation range. If bulls hold the level, it would be the end of the correction phase.

At the time of writing, BTC price was down 0.5% in the past 24 hours, with the price currently trading at $115,137. The 24-hour low and high are $114,684 and $116,784, respectively.

Furthermore, the trading volume has increased by 40% in the last 24 hours, indicating a rise in interest among traders.