Saylor's Strategy Adds $2.01B in Bitcoin in a Week

MicroStrategy's bitcoin-holding firm Strategy, chaired by longtime Bitcoin proponent Michael Saylor, has made another major purchase, adding to what is already the world's largest corporate BTC treasury. According to CoinDesk, Saylor said on Monday, May 18, that the company spent as much as $2.01 billion over the past week on its recurring Bitcoin buying program. The purchase totaled 24,869 bitcoins at an average price of $80,985. Following the acquisition, Strategy now holds 843,738 bitcoins. The value of its BTC holdings has surpassed $63.8 billion. The latest buy was broadly applauded by crypto investors, who viewed it as another sign of Saylor's conviction in Bitcoin. Not everyone agreed. Bitcoin critic Peter Schiff called the approach a "worse-performing investment," noting that the company's stock is down more than 4% even after the purchase. Schiff also pointed to Strategy's unrealized gains on its Bitcoin position, arguing that the return is only about 2.5% over five years, which he said is low for that time horizon.