Michael Saylor's Bitcoin financial company has doubled its Bitcoin holdings since last November when Trump won the U.S. presidential election by a landslide.
Since Trump's election, the strategy company has accumulated a total of 376,571 Bitcoins worth $43.2 billion. Before Trump's victory, it took the strategy company over four years to acquire 252,220 Bitcoins.
This means the company has accumulated 60% of its current total holding of 628,791 Bitcoins over the past nine months, during which Trump pushed several regulations supporting cryptocurrency and reversed Biden-era enforcement actions against the industry.
The strategy company disclosed its third-largest Bitcoin purchase.
On Monday, the strategy company disclosed in a filing with the U.S. Securities and Exchange Commission that it purchased 21,021 Bitcoins worth $2.46 billion last week, which is its third-largest purchase amount since it began accumulating cryptocurrency five years ago.
The company's recent purchase price is high, at $117,256 each, indicating that it remains steadfast in its Bitcoin strategy even at high valuations.
The company made two large-scale purchases of $5.4 billion and $4.6 billion after the U.S. elections.
Bitcoin is a "free virus".
Saylor, the executive chairman of the strategy company, described Bitcoin as a "free virus" on Fox Business Channel.
"We see it as a swarm organism because there are people supporting the Bitcoin ecosystem all around the world."
He added that the strategy company plans to provide higher returns than Bitcoin through the issuance of "credit instruments."
Wall Street has not yet understood: Michael Saylor.
"I don't think Wall Street understands yet," Saylor continued, noting that the company is currently the fourth most profitable financial company in the U.S.
Regarding multiple companies adopting Bitcoin reserves, Saylor stated:
"This is not a problem; all companies adopting Bitcoin standards is like companies deciding to use electric motors, to use electricity, the internet, or computers. This will become the rule."
The strategy company recorded a profit of $10 billion in the second quarter last week.
The strategy company's current Bitcoin holdings are worth $72.2 billion, purchased at an average price of $73,277 each, accounting for 3.16% of the total circulating Bitcoin supply.
