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Michael Saylor’s MicroStrategy Bags Another 2,138 BTC, Taking Total Holdings To 446,400 BTC
MicroStrategy, the leading corporate holder of Bitcoin, has made another significant purchase in the digital asset. The company announced that it has acquired an additional 2,138 Bitcoins (BTC) for approximately $209 million.
As a result, MicroStrategy’s total holdings now stand at a staggering 446,400 BTC, with a total value of roughly $41.5 billion. This massive acquisition is part of the company’s long-term strategy to hold and accumulate Bitcoin, not to sell.
Michael Saylor, the founder of MicroStrategy, has made no secret about his commitment to purchasing more Bitcoin, regardless of the market conditions. In recent weeks, this has led to a series of significant purchases, with Monday’s acquisition being the latest in a string of Bitcoin buy-ins.
This purchase comes as Bitcoin is experiencing a slight dip, with the cryptocurrency currently trading at $94,462. Despite this drop, MicroStrategy has continued to demonstrate its conviction in Bitcoin by buying more, not less.
The company has used cash to fund these purchases, having sold 592,987 shares earlier in the week to raise funds for this latest acquisition. As of publication time, Bitcoin had seen a 0.8% increase in value, suggesting that investors are still confident in the digital asset’s long-term prospects.
MicroStrategy’s aggressive strategy has already seen it purchase over 194,000 BTC worth around $18 billion since announcing its ambitious plans in October. This means that the company is well on its way to achieving its goal of investing in 21 million BTC.
This acquisition also gives MicroStrategy greater flexibility in funding future purchases. The company has filed with the SEC to increase the number of authorized shares for both common and preferred stock, allowing it to potentially raise more funds from investors.
As Bitcoin continues to hold strong, it is clear that MicroStrategy’s commitment to buying this digital asset is unwavering. With its massive holdings and increased funding flexibility, there is no indication that the company will be slowing down in its pursuit of this goal anytime soon.
Source: zycrypto.com
