#SaylorBTCPurchase The **#SaylorBTCPurchase** hashtag refers to **Michael Saylor**, co-founder and former CEO of **MicroStrategy** (a business intelligence company), and his highly publicized strategy of aggressively purchasing **Bitcoin (BTC)** as a corporate treasury reserve. Since August 2020, MicroStrategy has become one of the largest publicly traded holders of Bitcoin, sparking debates about corporate crypto adoption, risk management, and Bitcoin's role as a "digital gold" hedge against inflation.
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### **Key Facts About MicroStrategy's Bitcoin Purchases**
1. **Total Holdings**:
- As of **June 2024**, MicroStrategy holds **~214,400 BTC**, acquired for **~$7.5 billion** at an average price of **~$35,160 per BTC** (source: [MicroStrategy filings](https://www.microstrategy.com/)).
- At Bitcoin's all-time high (~$73,000 in March 2024), this stash was worth **~$15.6 billion** (unrealized gain of **+108%**).
2. **Funding Strategy**:
- MicroStrategy funded purchases through **cash reserves**, **debt offerings**, and **convertible notes** (e.g., $500 million raised in June 2024 via convertible senior notes).
- Saylor advocates Bitcoin as a superior store of value to cash, citing inflation risks and fiat currency debasement.
3. **Impact on Stock (MSTR)**:
- MicroStrategy's stock (**MSTR**) has become a **Bitcoin proxy**, often mirroring BTC's price movements.
- Shareholders approved a **"Bitcoin Development Strategy"** in 2024, formalizing BTC accumulation as a core business activity.
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### **Saylor's Public Rationale**
- **Inflation Hedge**: "Bitcoin is the exit strategy for the fiat-based financial system."
- **Corporate Strategy**: Shift from "dying" enterprise software to a Bitcoin-focused treasury.
- **Network Effect**: Betting on Bitcoin's long-term adoption as a global reserve asset.
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### **Criticisms and Risks**
- **Volatility**: Bitcoin's price swings have led to massive paper losses (e.g., during the 2022 bear market).
- **Debt Concerns**: Critics argue MicroStra
