Michael Saylor, known for his pro-Bitcoin stance and previous role as CEO of a NASDAQ-listed firm, announced two significant developments today. Firstly, the company acquired an additional 130 BTC, raising its total holdings to 650,000 BTC.

Secondly, it declared the creation of a USD Reserve valued at $1.44 billion aimed at maintaining dividends on its preferred stock and managing existing debts. This reserve is intended to secure at least one year of dividends and to be increased over time to cover two years’ worth of future payments.

“Establishing a USD Reserve to complement our BTC Reserve marks the next step in our evolution,” stated Michael Saylor, expressing confidence that it will better equip the firm against market fluctuations while solidifying its goal of becoming a leading Digital Credit issuer.

In his remarks, Saylor detailed the recent acquisition of 130 BTC for $11.7 million, with each unit purchased at an average price of $89,960. This recent purchase comprises 3.1% of all Bitcoin in existence.

On Twitter, he noted:

“Strategy has acquired 130 BTC for ~$11.7 million at ~$89,960 per bitcoin…”

This announcement correlates with a broader dip in the cryptocurrency market where BTC, which was valued at over $91,000 yesterday, has now fallen to $85,500 earlier today, and briefly hit $84,500 before recovering to approximately $86,000.

Stay updated for more developments in the cryptocurrency realm.