David Edwards
Bitcoin’s latest rally toward $89,000 caught the attention of MicroStrategy Chairman Michael Saylor, who responded with his trademark minimalism: “Bitcoin is Climbing.”
Accompanying his April 22 post on X was an image of Saylor in a suit scaling a cliff, a fitting metaphor for Bitcoin’s recent price trajectory. The post resonated strongly across the crypto community, aligning perfectly with the broader market sentiment as Bitcoin pushed past $88,700 following an Easter Monday breakout.
The move capped nearly two weeks of consistent upward momentum, surprising many who had not anticipated a major price surge during the holiday weekend.
MicroStrategy’s Bitcoin Strategy Hits Major Milestone
Saylor’s post carried deeper implications beyond a simple market commentary. MicroStrategy now holds 534,741 Bitcoin, with an average acquisition cost of $66,631 per coin. At current prices, the company’s Bitcoin position is up over 33%, with a market value nearing $47.5 billion.
Importantly, these gains are not merely on paper. They represent a strategic vindication for Saylor, who has long championed Bitcoin as a corporate treasury reserve asset.
Market Signals Strengthen MicroStrategy’s Position
MicroStrategy’s stock (NASDAQ: MSTR) is trading at $323.95, giving the firm a market capitalization of approximately $84.7 billion. Notably, Bitcoin holdings account for 56% of that valuation. The company’s net asset value (NAV) multiple of 1.785 indicates that investors see additional value beyond its Bitcoin reserves, likely reflecting MicroStrategy’s software business and future Bitcoin-related growth potential.
Saylor’s succinct “Bitcoin is Climbing” post serves not only as a reaction to the cryptocurrency’s price movement but also as a quiet reaffirmation that his high-profile Bitcoin strategy is bearing fruit.
