The world’s largest Bitcoin treasury company, Strategy, chaired by renowned Bitcoin advocate Michael Saylor, has completed another massive Bitcoin purchase, expanding its fast-growing treasury.
The latest purchase, which was shared by Saylor earlier today, has sparked discussions across the crypto community, considering the large amount of BTC it has scooped in the last week.
MicroStrategy spends $2.01 billion on Bitcoin purchase
On Monday, May 18, Saylor revealed that Strategy has spent a whopping $2.01 billion on its regular BTC purchases in just one week.
The data revealed that the firm topped up its holdings with a total of 24,869 BTC at $80,985 last week, marking one of its largest weekly purchases seen recently.
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While Saylor is globally known for his vocal support for Bitcoin, urging the crypto community to continue doubling down on the leading cryptocurrency, the aggressive Bitcoin purchases the company makes on a weekly basis come as expected by the community.
Following the latest Bitcoin purchase made by Strategy, the company now boasts a massive portfolio carrying a total of 843,738 BTC. Notably, Strategy’s Bitcoin holdings are now worth over $63.8 billion.
Worse-performing investment: Schiff mocks Saylor
As usual, the crypto community cheered Michael Saylor on his latest Bitcoin purchase, commending the Bitcoin veteran on his resilience in Bitcoin.
However, popular Bitcoin critic, Peter Schiff has held on to his contrasting opinion, describing Saylor’s Bitcoin strategy as a poorly performing investment, highlighting that the firm is already down by over 4% despite the latest purchase.
Schiff emphasized the paper gain of Strategy’s current Bitcoin position, declaring that the gain is just about 2.5%, which he considers extremely low for a 5-year-old investment.
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