As Bitcoin forecasts rise for 2025, Michael Saylor is doubling down after Microstrategy (MSTR) braved the crypto collapse to buy an additional 2,138 Bitcoin at $97.83K.
According to the Form 8-K filed by MicroStrategy with the Securities and Exchange Commission, this latest purchase, which was completed at an average price of $97,837 per bitcoin, totals approximately $209 million.
(source)
MicroStrategy is upping its cryptocurrency game, adding significant Bitcoin holdings. Strategic move?
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The acquisition, which was executed between December 23 and 29, 2024, reflects the company’s ongoing strategy to diversify its treasury reserve assets into cryptocurrency.
This step is not just about investing; It’s a bold statement of confidence in Bitcoin’s long-term value proposition. Under the guidance of Michael Saylor, CEO of MicroStrategy, the company has been aggressively accumulating Bitcoin since 2020, viewing it as a hedge against inflation and a cornerstone of the company’s treasury strategy.
#Bitcoin It is a swarm of cybernetic wasps that serve the Gods of Wisdom, feeding on the fire of truth, growing increasingly smarter, faster, and stronger behind a wall of coded energy.
-Michael Saylor
(@sailor) September 18, 2020
With this acquisition, MicroStrategy now owns 446,400 bitcoins, which, at current market prices, values its holding at approximately $41.8 billion.
This latest purchase was funded by the sale of MicroStrategy shares, illustrating how the company is leveraging its shares to expand its Bitcoin holdings.
The average purchase price for the entire Bitcoin portfolio is now around $62,428 per coin, which indicates significant unrealized gains when compared to the current Bitcoin price.
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MicroStrategy’s most recent buying period during the 23rd Basin is on December 29, 2024
MicroStrategy aims to protect against currency depreciation and take advantage of Bitcoin’s rising potential. This approach has redefined how companies view digital assets and influenced other companies to consider similar strategies.
Furthermore, MicroStrategy introduced the concept of “Bitcoin Return,” a key performance indicator that measures the change in its Bitcoin holdings compared to its diluted shares.
This metric shows how effectively a company is using stock to acquire Bitcoin, providing a new lens through which investors can view a company’s performance.
My last discussion with @Maddy Reddy Includes a detailed review of MicroStrategy, #Bitcoin Strategy, BTC Return, Fixed Income Opportunities, and Digital Capital. pic.twitter.com/XceN8nlV48
-Michael Saylor
MicroStrategy’s bets on Bitcoin and its impact on the market
This latest purchase indicates that MicroStrategy is not slowing down on its Bitcoin acquisition journey. With plans to continue this strategy, the company may soon approach or even surpass the 500,000 BTC mark.
This would represent approximately 2.5% of the total supply of Bitcoin that will ever exist. This move is likely to impact Bitcoin market dynamics and its perception as a viable institutional asset.
MicroStrategy’s actions have ripple effects across the cryptocurrency market. By publicly backing Bitcoin, it provides a form of validation that could attract more institutional investors.
Their strategy has been a talking point for how companies can integrate cryptocurrencies into their financial strategies. Moreover, it enhances Bitcoin’s potential as a reserve asset in corporate coffers.
MicroStrategy’s acquisition of 2,138 bitcoins underscores the ongoing trend of corporate adoption of cryptocurrencies. This move highlights MicroStrategy’s commitment to Bitcoin and impacts market sentiment, making Bitcoin increasingly important in mainstream finance.
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The post MicroStrategy Bold Moves: Double Up by Acquiring 2,138 More Bitcoins at $97,837 Each appeared first on 99Bitcoins.