Highlights:
- MicroStrategy now holds 244,800 BTC, worth $9.45 billion, solidifying its lead as the largest public Bitcoin investor.
- The company uses strategic financing, including bond issuances, to grow its Bitcoin reserves while maintaining financial stability.
- Michael Saylor views Bitcoin as a hedge against inflation and economic uncertainty, positioning it as a core asset for long-term growth.
MicroStrategy, the business intelligence software company turned major Bitcoin investor, has increased its holdings. The company, led by co-founder and chairman Michael Saylor, announced the acquisition of 18,300 additional BTC, valued at approximately $1.11 billion. This latest purchase brings MicroStrategy’s total Bitcoin assets to 244,800 BTC, solidifying its position as the largest public institutional Bitcoin investor.
MicroStrategy has acquired 18,300 BTC for ~$1.11 billion at ~$60,408 per #bitcoin and has achieved BTC Yield of 4.4% QTD and 17.0% YTD. As of 9/12/2024, we hodl 244,800 $BTC acquired for ~$9.45 billion at ~$38,585 per bitcoin. $MSTR https://t.co/WBBRSKxA1U
— Michael Saylor⚡️ (@saylor) September 13, 2024
MicroStrategy Boosts Bitcoin Holdings to $9.45 Billion in Assets
MicroStrategy’s transformation from a software company to a significant Bitcoin holder began in 2020 when it adopted an aggressive accumulation strategy. The company believes that Bitcoin serves as a superior store of value compared to traditional currencies. With the latest purchase, MicroStrategy controls roughly 1.3% of Bitcoin’s total supply, cementing its influence in the crypto market.
The recent acquisition was financed through cash reserves and proceeds from a $750 million bond issuance. MicroStrategy has utilized this financing approach several times, allowing the firm to increase its Bitcoin reserves while maintaining its financial stability. As of September 2024, the total value of MicroStrategy’s Bitcoin holdings has reached $9.45 billion.
Michael Saylor Sees Bitcoin as Key Hedge Against Economic Risks
Michael Saylor has consistently expressed his belief in Bitcoin’s long-term potential. He argues that Bitcoin offers a safeguard against inflation and economic instability, making it a critical asset for MicroStrategy’s portfolio. The firm’s average acquisition price is $38,585 per Bitcoin, and with Bitcoin currently trading at $57,814, MicroStrategy holds an unrealized profit of nearly $5 billion.
MicroStrategy’s latest purchase comes just weeks after its previous acquisition in August, where it added 169 BTC to its holdings. The company’s commitment to Bitcoin remains strong, with frequent acquisitions designed to increase its influence in the market.
MicroStrategy’s Steady Bitcoin Accumulation Strengthens Market Position
Since launching its Bitcoin accumulation strategy in August 2020, MicroStrategy has continuously expanded its holdings. The company’s second-quarter report for 2024 revealed that it purchased 12,222 Bitcoin for $805 million during that period. As of July 31, MicroStrategy had accumulated 226,500 BTC at an average price of $36,821 per Bitcoin.
In July, @MicroStrategy acquired an additional 169 BTC for $11.4 million and now holds 226,500 BTC. Please join us at 5pm ET as we discuss our Q2 2024 financial results, the outlook for $BTC, and our #Bitcoin development strategy. $MSTRhttps://t.co/cfGPc42jfM
— Michael Saylor⚡️ (@saylor) August 1, 2024
This steady accumulation strategy has allowed MicroStrategy to benefit from Bitcoin’s price appreciation while maintaining a long-term investment outlook. With each new purchase, the company reinforces its belief in Bitcoin as a store of value and a hedge against global economic challenges.
MicroStrategy’s latest acquisition of 18,300 BTC for $1.11 billion highlights the company’s strong commitment to Bitcoin. With a total of 244,800 BTC, the firm continues solidifying its position as the largest public institutional investor in cryptocurrency by using smart financing and focusing on the long term. MicroStrategy will benefit from Bitcoin’s growth and strengthen its position as a key player in the digital asset market.
After MicroStrategy’s recent BTC purchase, Bitcoin’s price dropped from $58,000 to $57,830. At the time of writing, Bitcoin was trading at $57,802, reflecting a 0.16% daily increase. It remained stable, fluctuating between $57,500 and $58,000 during the session.
