Anthony Scaramucci, the founder of SkyBridge Capital, has publicly commended Michael Saylor”s recent strategic move, labeling it as “really smart stuff.” This endorsement follows the announcement from Strategy regarding a significant Bitcoin acquisition, marking the largest purchase in several months.
Strategy confirmed the acquisition of 10,624 BTC for approximately $962.7 million, with an average purchase price of $90,615. This new acquisition elevates the company”s total Bitcoin holdings to 660,624 BTC, valued at nearly $60 billion at current market rates. The average cost of their holdings is approximately $74,702, resulting in an unrealized gain exceeding 20%.
Scaramucci highlighted the effectiveness of this approach, which prioritizes building a dollar cushion, followed by equity sales, and then utilizing those proceeds to acquire more Bitcoin. This strategy not only reinforces the balance sheet but also allows the largest corporate holder of Bitcoin to continue expanding its holdings in a manner that is closely monitored by the market.
The equity sales aspect of this strategy is particularly noteworthy. Scaramucci noted that even marginally accretive sales contribute positively to the balance sheet and enhance the firm”s BTC-per-share metric, which is being keenly observed by equity markets. Currently, the market capitalization of Strategy is estimated to range between $52 billion and $58 billion, with an enterprise value around $67 billion. Meanwhile, the mNAV readings have returned to levels nearing parity.
Saylor”s consistent methodology entails treating Bitcoin as a primary reserve asset, executing purchases when liquidity is available, and communicating these acquisitions with precision. Scaramucci”s backing indicates a shift in perception among Wall Street professionals, viewing Saylor”s model not merely as an experiment but as a scalable corporate framework for Bitcoin investment.
