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**446,400 BTC and Counting: MicroStrategy Buys 2,138 Bitcoins**
MicroStrategy, a business intelligence company, has made another significant investment in Bitcoin, purchasing 2,138 additional units of the cryptocurrency. This latest purchase valued at approximately $209 million brings the total value of its reserve to nearly $27.9 billion.
The acquisition is part of MicroStrategy’s strategy to increase its stake in Bitcoin, which it has been pursuing since its initial investments in the crypto industry. The company made this decision despite the recent volatility experienced by BTC, whose price has fallen 15% from its all-time high.
MicroStrategy remains committed to strengthening its balance sheet with Bitcoin, which has already generated over $13 billion in unrealized gains due to previous purchases. This focus on accumulating Bitcoin has not only increased the value of its reserves but also made it a significant player in the crypto market.
In addition to this latest purchase, MicroStrategy has requested permission from the Securities and Exchange Commission (SEC) to issue new shares worth billions of dollars. The proposal aims to increase the number of common and preferred shares, allowing the company to raise capital for future Bitcoin acquisitions.
Meanwhile, MicroStrategy’s inclusion in the Nasdaq 100 index has had a significant impact on its position within the financial market. This milestone is expected to attract up to $2 billion in passive fund inflows, increasing visibility among institutional investors and potentially impacting its stock performance.
Despite criticism from skeptics such as Peter Schiff, who believes that MicroStrategy’s acquisitions may not be enough to sustain the cryptocurrency’s price due to purchases being made at prices above the current level, the company remains dedicated to its Bitcoin accumulation strategy.
Source: crypto-economy.com
