Michael Saylor, the executive chairman of Strategy, confirmed on Monday that his crypto and software company has purchased 1,229 Bitcoin for approximately $108 million.
The purchase comes towards the end of a difficult 2025 for cryptocurrencies, many of which are facing a loss for the year. Despite Mr Saylor's purchase, Bitcoin traded at about $87,500 on Monday, down more than 18 per cent from a peak of above $123,000 in October.
That month, Mr Saylor forecast that Bitcoin would hit $150,000 by the end of the year. Mr Saylor, whose company was already the world's biggest corporate Bitcoin holder, explained the purchase on X. “Strategy has acquired 1,229 Bitcoin for $108.8 million at $88,568 per Bitcoin and has achieved BTC Yield of 23.2% YTD 2025,” he wrote.
According to a US Security and Exchange Commission filing, the purchase took place on Friday. Mr Saylor is a long-time investor in Bitcoin, the granddaddy of cryptocurrencies. During Binance Blockchain Week in Dubai this month, he maintained a bullish outlook for Bitcoin despite a volatile year.
“There's volatility in the market, there's sound and fury, there's scepticism, but there [was] scepticism about electricity, automobiles and airplanes,” Mr Saylor said. “There's always going to be scepticism of the new … I wouldn't be afraid,” he added. “Don't run away from the fire, run towards the fire.”
Mr Saylor is a leading voice in digital currency and crypto circles. A former Air Force officer, he consulted on “construction computer simulations” for companies like DuPont, Dow and Exxon before launching Strategy in 1989.
Strategy provides “cloud-native, AI-powered enterprise analytics software” with a particular focus on Bitcoin applications and strategy. The company now describes itself as the “first and largest Bitcoin Treasury company”, as well as being among the largest “independent, publicly traded business intelligence” companies.
The crypto industry was given a boost this year thanks to the Trump administration's embrace of the technology and a hands-off approach in terms of regulation. But scepticism lingers, with some critics saying the decentralised technology is often used by criminals or to dodge paying taxes.
Crypto mining, the process by which digital assets are obtained and secured through a blockchain network, has also been blamed for creating a surge in electricity demand. Hacks and technical glitches have also resulted in the theft of billions in digital assets, running contrary to the notion that crypto assets are highly secure.
Yet crypto proponents are quick to point out that fiat currencies are also far from perfect, and that crypto can potentially reduce the friction of banking that sometimes create obstacles for people who do not have a bank account.
They also point out that various groups abusing cryptocurrencies have been prosecuted, and that the sector is far from being the Wild West portrayed by sceptics and critics.
