Michael Saylor’s Strategy has announced the purchase of 525 bitcoins for $60.2 million. This increases the company's total bitcoin holdings to 638,985 BTC.
Recent Bitcoin Purchases
On September 15, Strategy reported purchasing 525 BTC at an average price of $114,562 per coin from September 8 to 14. These purchases were made using proceeds from STRF, STRK, and STRD shares.
Saylor noted that the company achieved a bitcoin yield of 25.9% year-to-date. The total value of Strategy’s bitcoin assets now stands at $73.470 billion, compared to its original investment of $47.23 billion.
MSTR Stock Performance
At the time of writing, MSTR shares fell by 0.45% to $329.72 in pre-market trading. Investor sentiment remains negative despite the increase in bitcoin prices. The company missed inclusion in the S&P 500 again, which negatively impacted its stock.
However, analysts are optimistic about future changes. TD Cowen reiterated its buy recommendation for a price target of $640, while another analyst expressed confidence in reaching targets of $705.
Bitcoin Price Forecasts
Crypto analysts are confident in a rise in bitcoin price to $120,000. Popular analyst Rekt Capital pointed out that last week closed above $114,000, indicating a potential recovery. Currently, the bitcoin price fluctuates around $115,137.
Michael Saylor’s Strategy continues to increase its bitcoin holdings despite pressure on the company's stock. Analysts remain optimistic about both MSTR shares and bitcoin prices.
