#SaylorBTCPurchase

Saylor Delves: Purchasing Bitcoin Worth $555 Million Revives Strategy

The strategy, MicroStrategy previously, purchased 6,556 Bitcoin for $555.8 million. The company bought Bitcoin for $84,785 each between April 14 and 20. This current move raises the company's Bitcoin holdings to 538,200.

The company holds over $36 billion in Bitcoin

The strategy is not the only Bitcoin investor. Other institutional buyers are following suit. Metaplanet purchased 330 BTC for $28 million, bringing its total to 4,855 BTC worth over $500 million. The Japanese retail giant ANAP bought Bitcoin for $70 million.

The new Bitcoin purchase for the strategy comes with a rise in its stocks. From $317 on Friday, MSTR shares rose nearly 3% to $325 in extended trading.

Recent changes in Bitcoin prices may explain this stock performance. The cryptocurrency surged to $87,600 today. MSTR shares have a strong positive correlation with Bitcoin prices, which is expected considering the strategy's significant exposure to the cryptocurrency.

The recent rise in Bitcoin prices concerns many observers. Crypto researcher Kevin Capital warns that Bitcoin needs to rise past $89,000 to be considered bullish. He advises market players to remain cautious until then.