Just saw the filing - MicroStrategy's Michael Saylor went shopping again. Picked up another 3,015 Bitcoin last week for about $204 million, bringing their total stack to over 720,000 BTC. That's wild when you think about it.

So here's the thing: they paid an average of $67,700 per coin on this batch, but their overall average cost basis is sitting at $75,985. With Bitcoin currently trading around $71.20K, that means they're sitting on some pretty hefty unrealized losses - we're talking billions. Most companies would be sweating this hard, especially after months of crypto market uncertainty.

Not Saylor though. The guy keeps pushing forward like nothing phases him. He funded this latest accumulation by selling shares of MSTR and their preferred stock, raising about $237 million total. The man's basically treating this like a long-term game where short-term volatility doesn't matter.

What's interesting is his recent comment about Bitcoin heading toward a million dollars eventually - assuming it doesn't collapse to zero, which is his typical caveat. That's a pretty bold michael saylor bitcoin price prediction when you're already underwater on your current holdings. But I guess that's the conviction play. He's been accumulating since August 2020 and just keeps adding to it. Now they hold roughly 3.4% of all Bitcoin that will ever exist.

Either this guy knows something the rest of us don't, or he's the most committed true believer in the space. Either way, it's hard not to respect the consistency.