MicroStrategy Now Owns Over 1% of the Total Bitcoin Supply

2024-3-20 15:30

MicroStrategy has substantially increased its Bitcoin reserves. Following the completion of its senior convertible notes offering, the company announced the acquisition of an additional 9,245 Bitcoin (BTC).

This purchase propelled MicroStrategy’s total holdings to a staggering 214,246 BTC, valued at $7.53 billion. It marks a significant milestone, positioning the firm as a dominant player with over 1% of the finite 21 million Bitcoin supply.

MicroStrategy Among Biggest Bitcoin Holders

Michael Saylor, the founder and executive chairman of MicroStrategy, highlighted the firm’s relentless pursuit of Bitcoin accumulation. The latest acquisition, costing $623 million, showcases the company’s strategic investment at an average price of $67,382 per BTC.

This move follows the successful $603 million offering of senior convertible notes due 2031, aimed at bolstering Bitcoin reserves. The net proceeds from this sale were approximately $592.3 million, factoring in discounts, commissions, and estimated offering expenses.

Prior to this, MicroStrategy’s Bitcoin portfolio stood at 205,000 BTC. The company’s aggressive investment strategy briefly positioned it ahead of BlackRock’s spot Bitcoin exchange-traded fund (ETF), IBIT, in terms of holdings, overtaking even the asset management titan.

Despite the significant Bitcoin purchase, MicroStrategy’s shares dipped by 5.7% on March 19 amidst a broader decline in the cryptocurrency market. This pullback follows an 18% price correction in Bitcoin, which dropped from $74,000 to $60,800.

Read more: Bitcoin Price Prediction 2024/2025/2030

MicroStrategy, Bitcoin Price Performance. Source: TradingView

Despite the decrease in Bitcoin’s value, analysts remain optimistic about its long-term potential, though concerns about MicroStrategy’s debt-funded approach have been raised. Analysts from JPMorgan caution against the risks of leveraging in the crypto rally, suggesting that it could exacerbate potential downturns.

“We believe debt-funded Bitcoin purchases by MicroStrategy add leverage and froth to the current crypto rally and raise the risk of more severe deleveraging in a potential downturn in the future,” analysts led by Nikolaos Panigirtzoglou wrote

Nonetheless, MicroStrategy’s strategy, led by Saylor’s vision, remains unwavering. The firm aims to leverage cheap capital to maximize its Bitcoin acquisitions, viewing the digital asset as the ultimate investment.

The post MicroStrategy Now Owns Over 1% of the Total Bitcoin Supply appeared first on BeInCrypto.

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Источник: beincrypto.com

microstrategy bitcoin → Результатов: 126


Hedge Fund Goes Long Bitcoin, Short MicroStrategy: Details

Kerrisdale Capital, a hedge fund, today disclosed a nuanced investment thesis: going long on Bitcoin while concurrently taking a short position on MicroStrategy shares. This move is predicated on the assessment that MicroStrategy, which has positioned itself as a de facto Bitcoin investment vehicle, is trading at a significantly unjustified premium to the underlying cryptocurrency […]

2024-3-29 01:00


Brace For Impact: MicroStrategy Is Planning Another $500 Million Bitcoin Purchase

American business intelligence and software development company, MicroStrategy has unveiled new plans to acquire an additional Bitcoin, further bolstering its already substantial BTC holdings. MicroStrategy Mega Bitcoin Purchase In The Works In a recent press release published on MicroStrategy’s official website, the software development company announced plans to raise $500 million in convertible debt offerings to purchase more Bitcoin.

2024-3-14 16:00


MicroStrategy’s Bold Bitcoin Bet: A Thrilling Tale of Profit and Persistence

MicroStrategy’s steadfast belief in Bitcoin has proven to be a wise investment strategy, as the company’s significant BTC holdings have begun to yield substantial returns. Despite facing challenges such as the bear market and industry crises, MicroStrategy remained committed to accumulating Bitcoin, and their patience seems to be paying off. $200M In Profit For MicroStrategy […]

2023-7-5 09:30


1 in every 138 Bitcoins are now owned by MicroStrategy, but it doesn’t make much sense

Key Takeaways MicroStrategy has purchased another thousand Bitcoin, taking their holdings to 140,000 at an average price of $28K The total investment is now $4.2 billion, with the company’s fate tied to the Bitcoin price CEO Saylor remains ultra-bullish, but has no regard for risk management For investors, someone may as well just purchase Bitcoin […] The post 1 in every 138 Bitcoins are now owned by MicroStrategy, but it doesn’t make much sense appeared first on CoinJournal.

2023-4-6 16:35


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