Michael Saylor just went all in on Bitcoin again and he’s not slowing down. From June 9 through June 15 his company, once known as MicroStrategy, spent about 1.05 billion dollars to add 10 100 more BTC at an average price of 104 080 per coin. That one week haul was their biggest in five weeks and now their total stash sits near 63.4 billion dollars.
What’s interesting is how he paid for it. Instead of tapping common shares and diluting existing stockholders, he raised money through preferred shares for the third week in a row. Preferred shares act a bit like a loan that only converts into stock under specific conditions. This week’s new preferred share class alone brought in almost 980 million dollars and another 78 million came from earlier share sales.
Critics are already lining up. Legendary short seller Jim Chanos calls Saylor more salesman than strategist and suggests buying Bitcoin directly while betting against Saylor’s stock. They warn the premium on the company’s share price over its actual Bitcoin holdings could shrink if Bitcoin wavers.
Still Saylor seems undeterred. Earlier this year he laid out plans to raise up to 84 billion dollars through a mix of debt, common stock and preferred shares over the next few years to keep piling into Bitcoin. To new crypto investors the message is simple. Saylor treats Bitcoin like digital gold and he’s using every tool available to keep stacking coins even when markets get choppy.
Whether you see him as a genius or a gambler his moves are shaping how big institutions view Bitcoin right now. If you believe in Bitcoin’s long term potential his strategy shows why major players keep jumping in. If you’re cautious it highlights the risk of betting so heavily on a single asset. Either way it’s worth watching.
