Strategy has topped up its Bitcoin holdings to the tune of over $1.4 billion, pushing the value of its Bitcoin stockpile to $52.3 billion in today’s prices.
The firm’s purchase of another 15,355 Bitcoin brings the company closer to Chair Michael Saylor’s goal of transforming the tech venture into a Bitcoin bank.
“The end game is to be the leading Bitcoin bank or merchant bank, or you could call it a Bitcoin finance company,” Saylor said during an event last year.
Bitcoin was up by 0.7% over the past day, trading at $94,000 at press time, but market watchers are exceedingly bullish that the leading cryptocurrency will hit new heights before July, fuelled by big buyers tapping into the asset, and a rotation from gold to Bitcoin.
“I look for a fresh all-time high of $120,000 in the second quarter,” Geoff Kendrick, the head of digital assets research at UK bank Standard Chartered, wrote in a Monday note. “Then, onto my $200,000 end-of-year forecast.”