Strategy (MicroStrategy), which has been continuing its regular Bitcoin (BTC) purchases since 2020, although it skips some weeks, made its weekly Bitcoin purchase and purchased 130 BTC last week.
Accordingly, Strategy purchased 130 BTC for approximately $11.7 million at an average price of $89,960.
Strategy founder Michael Saylor announced the news via a post on his X account.
Dollar Reserve Announcement Also Made!
Strategy (MSTR) also announced that it has created a reserve fund for dividend payments other than Bitcoin purchases.
Strategy announced the establishment of a US dollar reserve funded by proceeds from the sale of Class A common stock under the market offering program.
Accordingly, Strategy stated that it has established cash reserves of USD 1.44 billion to ensure short-term financial stability and cover at least 12 months of dividends.
Michael Saylor stated that the cash reserve is a hedge against short-term market volatility, saying, “This is a step towards creating a cash-based buffer separate from the Bitcoin reserve.”
It has been evaluated that Strategy’s move may have been a response to recent discussions that the company’s financial situation is excessively dependent on Bitcoin.
*This is not investment advice.
Source: https://en.bitcoinsistemi.com/two-major-bitcoin-btc-announcements-from-big-bull-michael-saylor-this-week-here-are-the-details/


