In a most curious turn of events, the esteemed software designer MicroStrategy has decided to pause its relentless Bitcoin buying spree, which had persisted for a staggering twelve weeks. One might say they are now clutching their $44 billion treasure trove with the fervor of a miser guarding his gold! 💰
For the first time in three months, the company refrained from executing a Bitcoin (BTC) purchase, as revealed in the Form 8-K disclosure documents submitted to the U.S. Securities and Exchange Commission. It appears that even the most fervent of Bitcoin enthusiasts can tire of the chase! 🏃♂️💨
After a dozen consecutive weeks of acquiring Bitcoin, MicroStrategy has not sold a single class A common share from its at-the-market program. Between January 27 and February 2, the company found itself in a rather peculiar position, with an impressive $4.35 billion worth of equity offerings still available to finance future Bitcoin escapades. One can only imagine the boardroom discussions: “To buy or not to buy, that is the question!” 🤔
“Last week, MicroStrategy did not sell any shares of class A common stock under its at-the-market equity offering program, and did not purchase any bitcoin. As of 2/2/2025, we hodl 471,107 $BTC acquired for ~$30.4 billion at ~$64,511 per bitcoin. $MSTR”
— Michael Saylor⚡️ (@saylor) February 3, 2025
In a bid to fund its ambitious “21/21” strategy, crafted by the ever-visionary executive chairman Michael Saylor, the company plans to utilize its ATM offering. This grand design aims to invest a staggering $42 billion in Bitcoin. One can only hope they have a good map for this journey! 🗺️
Moreover, Saylor’s enterprise has introduced a preferred stock offering dubbed STRK. This new channel for capital raising, launched to procure even more BTC, has already attracted a delightful $563.4 million in investor cash shortly after its debut last week. It seems the allure of Bitcoin is as irresistible as a fine vintage wine! 🍷
As of February 3, MicroStrategy proudly holds 471,107 BTC, valued at approximately $44 billion, even as Bitcoin itself has taken a tumble to $96,000 amidst a market-wide correction, spurred by mass liquidations. Ah, the fickle nature of fortune! 🎢
During its twelve-week buying spree, Saylor’s dotcom-era business intelligence firm spent around $20 billion on Bitcoin, acquiring as much as $1.1 billion worth of tokens on at least two occasions. Such audacity! This aggressive accumulation strategy has not gone unnoticed, influencing other firms like Marathon Digital and Riot Platform, who have also been busy building their own Bitcoin treasuries while dabbling in the mining business. It seems the Bitcoin fever is contagious! 🤒
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2025-02-03 18:36