MicroStrategy buys $2.54B in Bitcoin in a week, becomes top institutional holder

MicroStrategy, the software company led by Bitcoin pioneer Michael Saylor, completed a week-long purchase totaling about $2.54 billion in Bitcoin, making it the largest institutional holder of the cryptocurrency worldwide.

Separately, Saylor reiterated a long-term target of Bitcoin reaching $21 million per coin. MicroStrategy is reported to hold 780,897 BTC, with the firm’s holdings rising above its cost basis after a rally. The combined moves underscore a strategy of accumulating Bitcoin as a major corporate asset and highlight Saylor’s bullish stance on the digital asset.