$BTC $ETH $XRP #BuiltonSolayer Bitcoin price surpasses $120,000, Michael Saylor’s company makes new $18 million

On Sunday night, Bitcoin’s price crossed the $122,290 mark, shortly after which Michael Saylor’s company “Strateg” announced the purchase of 155 Bitcoins, worth approximately $18 million.

This purchase also marks the company’s fifth anniversary of its Bitcoin treasury strategy. With this latest acquisition, the company now holds a total of 628,946 Bitcoins — roughly 3% of the total Bitcoin supply.

The company funded this purchase using its STRF ATM (At The Market) program and proceeds from previously issued stock.

Strateg’s total Bitcoin investment has now reached nearly $46.1 billion, with an average purchase price of about $73,288 per coin. On the occasion, company chairman Michael Saylor said:

> “If you don’t stop buying Bitcoin, your earnings won’t stop either.”

Strateg first bought Bitcoin in August 2020, acquiring about 21,454 Bitcoins for $250 million when the price was around $11,400 per coin. Since then, Bitcoin’s value has risen dramatically — a testament to the success of the company’s strategy.

Although this latest purchase is smaller than last month’s major acquisition, it still reflects the company’s firm commitment to continual Bitcoin investment.

Such a strategy has also encouraged other companies to add Bitcoin to their treasuries. Strateg’s Bitcoin purchases have had a positive impact on the market, and institutional investor interest continues to grow.

Michael Saylor remains optimistic about future Bitcoin price increases and has announced plans to keep buying in the coming years. This, in turn, has strengthened Bitcoin’s perception as a stable investment within the cryptocurrency market and enhanced its importance in the global financial system.