MicroStrategy (MSTR) has done it again, adding 11,000 Bitcoin to its already substantial holdings. Led by Executive Chairman Michael Saylor, the company purchased $1.1 billion worth of Bitcoin last week, bringing its total stash to a staggering 461,000 BTC. This marks their 11th consecutive week of purchases, according to CoinDesk.
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Saylor Hints at Bigger Moves
Michael Saylor teased the announcement on X, cryptically tweeting, “Things will be different tomorrow,” before revealing the massive buy. With this latest purchase, MicroStrategy’s average Bitcoin cost has risen to $63,610 per token. While Bitcoin currently trades around $104,500, Saylor remains committed to the long-term potential of the cryptocurrency.
Is MicroStrategy a Buy Right Now?
Analysts remain optimistic about MSTR stock, with a Strong Buy consensus rating based on a unanimous eight Buys. Over the past year, MSTR has increased by more than 740%, and the average MSTR price target of $529.57 implies an upside potential of 33.6% from current levels.
