MicroStrategy continues to solidify its leadership among corporate Bitcoin investors by increasing its digital currency reserves.
Bitcoin Purchase Amidst Panic
Last week, MicroStrategy bought 5,262 BTC for $561 million, raising its holdings to 444,262 BTC. This purchase took place while many investors were panic selling their assets.
MicroStrategy's Funding Program
The company funded its latest purchase using its at-the-market stock sales program, which has $7.08 billion available. This unique strategy of financing crypto assets through equity sales is characteristic of MicroStrategy.
Company's Market Position
MicroStrategy commenced its first full day of trading as a member of the Nasdaq 100 index. The stock price in pre-market trading remained stable above $364.2. The total value of the company's Bitcoin reserves is approximately $42.2 billion.
MicroStrategy's decisions, such as the recent significant Bitcoin purchase, reflect the company's confidence in the cryptocurrency's potential as a strategic asset.
