Crypto News – MicroStrategy’s Bitcoin Strategy: $37 Billion Portfolio and Growing
Crypto News – In a significant move, MicroStrategy, a leading business intelligence and software company, has purchased an additional 55,500 bitcoins between November 18 and November 24, marking its largest single bitcoin purchase to date. According to an SEC filing, the average price per bitcoin was $97,862, highlighting the company’s continued commitment to expanding its cryptocurrency holdings.
Financed Through Debt Offering
This substantial bitcoin acquisition was financed by proceeds from a $3 billion debt offering, completed on November 21, which generated $2.97 billion in net proceeds. The decision to finance the purchase with debt reflects MicroStrategy’s long-term bullish stance on bitcoin, positioning it as a key asset for the company’s financial strategy.
MicroStrategy’s Bitcoin Holdings Now Exceed $37 Billion
With this new acquisition, MicroStrategy’s total bitcoin holdings have now reached 386,700 bitcoins, with a current market value surpassing $37 billion. This move further solidifies MicroStrategy’s position as one of the largest corporate holders of bitcoin globally, with the company’s total holdings representing a significant portion of the total supply of bitcoin in circulation.
MicroStrategy’s Bitcoin Strategy: A Long-Term Play
MicroStrategy, led by CEO Michael Saylor, has been an outspoken advocate for bitcoin as a store of value and an inflation hedge. The company’s aggressive strategy of acquiring bitcoin through debt financing demonstrates its confidence in the long-term value of the cryptocurrency, even amid market volatility. MicroStrategy’s commitment to holding bitcoin long-term has made it a trailblazer among publicly traded companies, signaling its belief in bitcoin’s potential as a core asset for future financial growth.
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