{"id":24424,"date":"2024-12-10T01:19:17","date_gmt":"2024-12-10T01:19:17","guid":{"rendered":"https:\/\/www.bitrabo.com\/discover\/?p=24424"},"modified":"2024-12-10T01:19:17","modified_gmt":"2024-12-10T01:19:17","slug":"microstrategy-bolsters-bitcoin-portfolio-with-2-1-billion-acquisition-of-21550-btc","status":"publish","type":"post","link":"https:\/\/www.bitrabo.com\/discover\/microstrategy-bolsters-bitcoin-portfolio-with-2-1-billion-acquisition-of-21550-btc\/","title":{"rendered":"MicroStrategy Bolsters Bitcoin Portfolio with $2.1 Billion Acquisition of 21,550 BTC"},"content":{"rendered":"\n

MicroStrategy, a prominent US business intelligence company, has significantly increased its Bitcoin (BTC) investments as part of its strategy for corporate treasury management. The firm recently revealed that it acquired 21,550 BTC, amounting to around $2.1 billion.<\/p>\n

MicroStrategy Remains Confident Amid Bitcoin\u2019s Price Milestone<\/h2>\n

Today, the publicly traded company announced its latest acquisition of 21,550 BTC, coinciding with Bitcoin\u2019s historic surge past the $100,000 mark for the first time, which has propelled the total market capitalization of cryptocurrencies to record heights.<\/p>\n

As per a filing<\/a> with the US Securities and Exchange Commission (SEC), the purchase was funded through proceeds from share issuance, totaling $2.13 billion. This acquisition occurred between December 2 and December 8, with an average price of $98,783 per BTC, covering fees and expenses.<\/p>\n

Michael Saylor, the CEO of MicroStrategy, indicated in an X post<\/a> that the firm has accumulated a total of 423,650 BTC, at a cumulative expense of $25.6 billion, averaging $60,324 per BTC.<\/p>\n

Despite the soaring BTC prices, Saylor is undeterred, maintaining his strong belief in the cryptocurrency\u2019s future. Earlier this year, he expressed his intention to continue investing regardless of the price, stating:<\/p>\n

\n

I\u2019m confident I\u2019ll be buying Bitcoin at $1 million per coin \u2014 likely around $1 billion worth of Bitcoin per day at that price.<\/p>\n<\/blockquote>\n

With 423,650 BTC in its portfolio, MicroStrategy now controls over 2% of the total Bitcoin supply capped at 21 million coins. Recently, Saylor called<\/a> for the US government to transition from gold to Bitcoin. He asserted:<\/p>\n

\n

Dump your gold. Sell all the US gold and buy Bitcoin. You will demonetize the entire gold asset class. And our enemies hold gold in their banks, so their assets would go to zero. Our assets would go to $100 trillion.<\/p>\n<\/blockquote>\n

<\/span>Fifth Consecutive Week of Bitcoin Acquisitions<\/span><\/h2>\n

This latest acquisition marks MicroStrategy\u2019s fifth straight week of BTC purchases. During this time, the price of Bitcoin has surged by 40%, with MicroStrategy\u2019s stock (MSTR) increasing by roughly 20%.<\/p>\n

So far this year, MicroStrategy\u2019s shares have skyrocketed by 520%, rising from $69 on January 1st to $388 currently. This growth has surpassed that of Bitcoin and the S&P 500, reinforcing the company\u2019s status as a leading corporate Bitcoin holder.<\/p>\n

<\/p>\n

MicroStrategy\u2019s successful BTC strategy has influenced many companies globally, including Japan-based investment firm Metaplanet. Additionally, Saylor has advocated for tech giant Microsoft to consider adding Bitcoin to its balance sheet.<\/p>\n

Meanwhile, long-time gold advocate Peter Schiff remains skeptical of Bitcoin\u2019s viability, suggesting that MicroStrategy\u2019s investment strategy may ultimately fail. As of now, BTC is trading at $100,192, reflecting a slight decrease of 0.1% in the last 24 hours.<\/p>\n

\"bitcoin\"<\/p>\n","protected":false},"excerpt":{"rendered":"

MicroStrategy, a prominent US business intelligence company, has significantly increased its Bitcoin (BTC) investments as part of its strategy for corporate treasury management. The firm recently revealed that it acquired 21,550 BTC, amounting to around $2.1 billion. MicroStrategy Remains Confident Amid Bitcoin\u2019s Price Milestone Today, the publicly traded company announced its latest acquisition of 21,550 […]<\/p>\n","protected":false},"author":14,"featured_media":24425,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"slim_seo":{"title":"MicroStrategy Bolsters Bitcoin Portfolio with $2.1 Billion Acquisition of 21,550 BTC - Bitrabo","description":"MicroStrategy, a prominent US business intelligence company, has significantly increased its Bitcoin (BTC) investments as part of its strategy for corporate tre"},"footnotes":""},"categories":[316],"tags":[580,448,449,572,506,2164,1285],"class_list":["post-24424","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-crypto-news","tag-billion","tag-bitcoin","tag-btc","tag-expands","tag-holdings","tag-microstrategy","tag-purchase"],"acf":[],"_links":{"self":[{"href":"https:\/\/www.bitrabo.com\/discover\/wp-json\/wp\/v2\/posts\/24424","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.bitrabo.com\/discover\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.bitrabo.com\/discover\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.bitrabo.com\/discover\/wp-json\/wp\/v2\/users\/14"}],"replies":[{"embeddable":true,"href":"https:\/\/www.bitrabo.com\/discover\/wp-json\/wp\/v2\/comments?post=24424"}],"version-history":[{"count":0,"href":"https:\/\/www.bitrabo.com\/discover\/wp-json\/wp\/v2\/posts\/24424\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.bitrabo.com\/discover\/wp-json\/wp\/v2\/media\/24425"}],"wp:attachment":[{"href":"https:\/\/www.bitrabo.com\/discover\/wp-json\/wp\/v2\/media?parent=24424"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.bitrabo.com\/discover\/wp-json\/wp\/v2\/categories?post=24424"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.bitrabo.com\/discover\/wp-json\/wp\/v2\/tags?post=24424"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}