Recently, MicroStrategy, led by Michael Saylor, acquired 130 BTC, investing $10.7 million, as part of their long-term investment strategy.
Deal Details
MicroStrategy expanded its portfolio by adding 130 BTC at an average price of $82,981 per bitcoin. While it's not the company's largest purchase, it raised their total holdings to 499,226 BTC, valued at $33.1 billion.
Financing and Strategy
The company funded this acquisition by selling 123,000 shares of its perpetual preferred stock, STRK, raising about $10.7 million. This transaction is part of a larger $21 billion offering program, with $20.99 billion still available.
Market Position
MicroStrategy remains committed to its strategy despite recent Bitcoin price decline by 0.6%, while the broader crypto market rose by 5.2%. The focus is on Bitcoin's long-term value, disregarding short-term fluctuations.
Michael Saylor's strategy emphasizes confidence in Bitcoin as a reliable store of value, providing a hedge against traditional financial volatility.
