Overview
- Michael Saylor posted a chart titled “The Second Century Begins” showing 720,737 BTC, a format he has often used before purchase disclosures, reviving speculation of another buy with no new SEC filing attached at the time of reporting.
- The reserve is valued near $48.5–$48.7 billion at Bitcoin prices around $67,300–$67,500, accumulated across more than 100 purchases since 2020.
- MicroStrategy’s most recent disclosed acquisition was 3,015 BTC bought between Feb. 23 and March 1 at an average price of $67,700, marking its 100th purchase.
- With an average purchase price around $75,985 per BTC, the position sits below cost as Bitcoin trades under that level, and the stock recently traded near a basic NAV discount with shares down about 4.5% on Mar. 6.
- Saylor has confirmed a target of up to 1.5 million BTC, which would require roughly $55 billion in additional capital, with ongoing funding via convertible notes, equity offerings and preferred securities and no forced-liquidation triggers reported in the structure.