The software giant accelerates Bitcoin purchases with record buy and plans for more funding.
MicroStrategy Makes Historic Bitcoin Purchase
MicroStrategy has made its largest Bitcoin acquisition to date, investing $4.6 billion in the cryptocurrency. Between November 11 and 17, the company bought 51,780 BTC, bringing its total holdings to approximately 331,200 BTC, valued at around $30 billion.
Leveraging the Stock Market for Bitcoin Growth
To fund this massive BTC buy, MicroStrategy tapped capital markets. The firm raised funds by selling 13.6 million shares through its at-the-market program, part of a $21 billion offering. The funds generated are being used to purchase additional Bitcoin, with a recent filing showing a plan to raise $1.75 billion through convertible senior notes maturing in 2029.
MicroStrategy’s Bitcoin Strategy and Growth
Founded by Michael Saylor, MicroStrategy began investing in BTC in 2020, initially as an inflation hedge. Over time, the company shifted from using cash to funding Bitcoin purchases with stock sales and convertible debt. This approach has driven significant growth for the company, with its stock price increasing over 400% in 2024.
Aiming to Dominate the Institutional Bitcoin Market
MicroStrategy is now the largest institutional holder of Bitcoin globally. The firm’s strategy has positioned it as a key player in the crypto market, capitalizing on the cryptocurrency’s long-term potential. The company’s BTC holdings were purchased for approximately $16.5 billion, far below their current market value.
MicroStrategy’s Bold Bet on Bitcoin
With its record BTC purchase and ongoing plans to raise more capital, MicroStrategy continues to double down on its Bitcoin strategy. Despite market volatility, the firm’s commitment signals a growing institutional appetite for cryptocurrency.
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