As a seasoned investor who witnessed the dot-com boom and bust, the crypto revolution, and the rise of Bitcoin, I find MicroStrategy’s relentless pursuit of Bitcoin intriguing. The company’s unwavering commitment to Bitcoin, even amidst market volatility, is reminiscent of early tech companies that dared to disrupt established industries.
On December 24, MicroStrategy, a software firm with significant investments in Bitcoin, will be hosting a shareholders’ meeting to discuss and vote on two proposals aimed at strengthening their existing $42 billion Bitcoin investment.
MicroStrategy recently increased its Bitcoin stash by an additional 5,262 units. Now, the firm’s entire Bitcoin holdings amount to a staggering 444,262 BTC, which is currently valued at approximately $42.2 billion based on current market rates.
1) For the seventh consecutive week, MicroStrategy bought Bitcoins at an average price of around $106,622 each. This acquisition was made possible by selling some of its existing shares through its “at-the-market” program. As of now, this program still has approximately $7.08 billion available for further Bitcoin purchases.
The orange dots on are motivational.
— Michael Saylor⚡️ (@saylor) December 22, 2024
Recently, it was announced that MicroStrategy’s stock is now part of the prestigious Nasdaq 100 index. Interestingly, this addition didn’t seem to affect its share price, which remained around $364.2 prior to market opening.
Additionally, it was announced on the same day that MicroStrategy would be holding a significant shareholder gathering on December 24th. During this event, shareholders will have the opportunity to cast their votes on crucial matters. Among these proposals is an increase in the number of shares the company can sell in the future to finance additional Bitcoin acquisitions.
Over the coming years, the company plans to expand its Bitcoins significantly by raising approximately $42 billion via equity financing and bond sales, which is known as their “21/21 plan.
This strategy indicates that MicroStrategy is fully committed to incorporating Bitcoin as a significant aspect of its overall business model, aiming to generate even larger profits from its cryptocurrency investments. The strategic moves deliberated in the shareholder meeting are intended to reinforce this plan and allow the company to consistently grow its Bitcoin reserves.
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2024-12-24 10:45