Saylor's Strategy Buys $2B Bitcoin, Urges Community to Accumulate

Michael Saylor, the founder and chairman of Strategy, a Bitcoin-focused company, recently took to his official account on the X platform to address his followers about Bitcoin. Over the past 24 hours, Bitcoin had seen a minor increase of 2.4%, rising from the $82,390 zone to surpass $84,350, followed by a price slip and subsequent recovery to the $84,000 price level.

Saylor urged the Bitcoin community to accumulate Bitcoin on the dip, tweeting, “Don’t be a fool. Buy Bitcoin.” He also posted an AI-generated picture of himself dressed in a jester’s suit, wearing a jester’s cap with bells, a nod to the historical role of court jesters who were sometimes the only ones allowed to advise kings and queens.

Yesterday, on March 31, Saylor announced that his company had purchased a massive amount of Bitcoin worth almost $2 billion. This purchase included 22,048 BTC, valued at approximately $1.92 billion. With this acquisition, the company now holds 528,185 Bitcoins in total, equal to roughly $35.63 billion.

Recently, Strategy made an offering of $700 million worth of perpetual preferred stock to investors to raise money to fund its further Bitcoin accumulation. However, the New York broker believes this offer from Saylor’s company faced lower investor demand than was anticipated. Citing Monness Crespi Hardt, the broker now sees this method as unsustainable due to current market saturation.

Saylor's call to action and the company's significant Bitcoin purchase underscore his unwavering belief in the cryptocurrency's potential. Despite the recent downgrade in rating by Monness Crespi Hardt, Saylor's strategy of accumulating Bitcoin during market dips remains a key part of his investment philosophy. The company's substantial holdings in Bitcoin reflect its commitment to the digital currency, positioning it as a major player in the crypto market.