#SaylorBTCPurchase

DEAR FRIENDS,

Michael Saylor, co-founder and executive chairman of Strategy (formerly MicroStrategy), has made headlines again with a significant new acquisition of Bitcoin. The company, known for being the largest corporate holder of Bitcoin in the world, has purchased 15,350 BTC worth $1.5 billion

(⁠^⁠^⁠)The stock was sliding Tuesday as cryptocurrencies’ tough recent run continued. The business software company’s latest Bitcoin purchase will send mixed signals to digital-asset investors.

Shares of the company, which said in February it would be changing its name to Strategy, dropped 6.8% to $274.13. The benchmark S&P 500 index was down 0.8%

This move reinforces Saylor's strategy of making Bitcoin the company's primary reserve asset while continuing to lead the institutional adoption of the cryptocurrency.

Details of the purchase

Amount acquired: 15,350 BTC.

Total value: $1.5 billion.

Average price per BTC: $106,533.

Total Bitcoin held: 439,000 BTC, with an estimated value of over $45 billion