Last week, the well-known business intelligence company, MicroStrategy, boosted its Bitcoin holdings even further by purchasing another 1,070 Bitcoins at a total cost of around $101 million.
I recently learned that my investment company made public their Bitcoin (BTC) acquisition through a Securities and Exchange Commission (SEC) filing on January 6th. They mentioned the average cost they paid for each Bitcoin was approximately $94,004.
With this latest purchase, MicroStrategy now owns a total of 447,470 Bitcoins, which they acquired at a combined cost of approximately $27.97 billion, including any associated fees and expenses. This means their average price per Bitcoin is currently around $62,503.
Currently, the worth of MicroStrategy’s Bitcoin assets surpasses a staggering $44 billion, equating to around 2.1% of the total fixed Bitcoin supply of 21 million coins.
On January 6th, prior to market hours, MicroStrategy’s stock was being traded at $352.03 per share – a level that marks a new peak for the company, having previously reached its highest point in November.
The sale of 319,586 MicroStrategy shares took place concurrently, yielding $101 million within the same timeframe. This is an extension of their continuous capital-raising plan worth $42 billion (combined equity and fixed-income), which they’re using to finance future Bitcoin purchases. Last week, MicroStrategy announced plans for a proposed $2 billion preferred stock offering to further develop this initiative.
‘Burn the keys’
Michael Saylor, the co-founder and executive chairman of MicroStrategy, is a strong advocate for Bitcoin and is widely recognized as a prominent business figure associated with Bitcoin.
As a dedicated crypto investor, I see Bitcoin not just as an avenue for amassing wealth, but as a means to be part of a broader, altruistic movement that transcends humanity.
If you amass significant wealth through Bitcoin and destroy your access keys upon departing, you’re essentially donating an equal share of your holdings to every other Bitcoin owner worldwide, according to Saylor’s statements in a recent interview with Fox.
Although certain analysts have raised doubts about Saylor and MicroStrategy’s methods, specifically their high premium-to-net-asset-value evaluation and their Bitcoin investment approach that involves both equity and debt financing, a large portion of the cryptocurrency market remains supportive of the company, as demonstrated by investor trust.
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2025-01-06 17:27