Michael Saylor's Strategy Boosts Bitcoin Holdings to 499K With New Buy

The company disclosed that it acquired these assets between March 10 and March 16, at an average purchase price of $82,981 per BTC

The co-founder and executive chairman of Strategy, Michael Saylor, remains a strong advocate for Bitcoin as a long-term investment. However, despite Saylor’s initiative, some, like the outspoken gold enthusiast and chairman of Impact Investing, Charles M. Tips, are skeptical of Bitcoin’s prospects.

During a recent interview with Grant Williams of Real Vision, Tips expressed his pessimistic outlook on Bitcoin, particularly in comparison to gold. He believes that gold will ultimately outperform Bitcoin as a long-term store of value.

According to Tips, the recent performance of Bitcoin against gold is a cause for concern. He noted that Bitcoin has been losing ground against gold steadily over the past year.

This observation led Tips to conclude that Bitcoin is "breaking down" relative to gold, suggesting an imbalance in their value ratio.

According to a report by Benzinga, Tips went on to warn Saylor directly about the implications of this relative decline.

"I would be warning Mike Saylor that if he’s really thinking long term, he should be concerned about this long-term breakdown in the chart of Bitcoin versus gold," Tips stated.

According to him, the implications are clear: “Gold is winning, and if you’re thinking long term, you should be indifferent between the two but prefer the one that’s going up.”

According to the latest filing with the U.S. Securities and Exchange Commission (SEC), Strategy has increased its Bitcoin holdings with a new purchase.

The company bought 130 BTC between March 10 and March 16 at an average price of $82,981 per coin for a total expenditure of $10.7 million.

The company funded the purchase through the sale of its Series A preferred stock and sold 123,000 shares of its 8.00% Series A perpetual strike preferred stock (STRK Shares) for a total net proceeds of approximately $10.7 million.

According to the report, Strategy also confirmed that no Class A common stock was sold during the same period.

This approach is in line with the company’s recent financing strategies, enabling it to expand its Bitcoin portfolio without affecting its primary stock structure.

The latest purchase brings Strategy’s total holdings to 499,226 BTC, valued at more than $41.6 billion at current market prices. The company’s average purchase price across all acquisitions stands at $66,360 per BTC, inclusive of fees and expenses.

At current market prices, Strategy’s entire Bitcoin stash now amounts to an incredible $41,608,280,000.