Strategy’s (formerly MicroStrategy’s) rather audacious Bitcoin playbook continued this week, with another nine-figure purchase announced by none other than Michael Saylor, who seems to have traded his boardroom for a crypto casino. 🧠💰
However, it was the remark that accompanied it that truly stole the show. Chaitanya Jain, Bitcoin strategy manager at the company, resurrected the old crypto joke on social media, declaring that the firm will “be buying the top forever” after a software provider added 430 BTC at an average of $119,666 per coin. A quixotic gambit, if ever there was one. 🤪
Many are jokingly pointing to the character of Strategy’s acquisitions, which seem to mirror the whims of a drunken seagull-picking the highest point on the price chart, only to watch it plummet like a stone. After the announcement, BTC’s price took a nosedive, as if the market itself were rolling its eyes. 😂
Purchased 430 $BTC for $51 million.
We’ll be buying the top forever.– Chaitanya Jain (@_ChaitanyaJ) August 18, 2025
As of Aug. 17, 2025, Strategy’s balance sheet holds 629,376 BTC. That stash, built since 2020, carries a total cost basis of roughly $46.15 billion, with an average entry price of $73,320 per BTC. Even though Strategy once again “bought the top,” the latest purchase means the firm’s Bitcoin yield sits at 25.1% for the year to date. A feat as impressive as a parrot reciting Shakespeare. 🦜
Digging deeper into the numbers, data shows that Strategy’s current holdings translate into a market value of around $72.4 billion, putting it more than 56% in profit overall. And that is no joke for the ultracomplicated multibillion financial operation involving lots of personal marketing from Saylor and constant borrowing through issuance of new stocks. A spectacle as baffling as a magician explaining their tricks. 🎩🐇
Numbers game
Talking about the top, Bitcoin has retreated from highs above $123,000 earlier in August to near $115,000 today, triggering a painful $581 million liquidation “avalanche” in parallel. A financial earthquake, if you will. 🌍💥
On the corporate side, roughly 71% of that valuation is tied directly to Bitcoin, underscoring how Strategy has become a literal proxy for the cryptocurrency. A company so entangled in crypto, it’s like a moth chasing a flame-only the flame is a volatile market and the moth is a boardroom full of executives. 🔥
Whether Jain’s comment was meant in jest or a nod to Bitcoin’s cyclical volatility, the statement reflects the unusual situation the company has created for itself: doubling down at levels some fear could mark a near-term top, while its long-term thesis continues to hinge on Bitcoin becoming the ultimate store of value. A gamble as risky as betting on a horse named “Hope.” 🏇
For now, the strategy is showing outstanding numbers. Or as someone might say, “The market is a fickle lover, but Strategy is determined to marry it-despite the divorce papers.” 💼📄
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2025-08-18 20:21