MicroStrategy has once again boosted its Bitcoin assets by acquiring an additional 27,200 bitcoins worth $2.03 billion, solidifying its position as the largest corporate holder of Bitcoin.
New Bitcoin Acquisition
MicroStrategy recently announced a purchase of 27,200 bitcoins at an average price of $74,463 each. This acquisition makes the company the largest corporate holder of Bitcoin with total assets of 279,420 BTC valued at $24.83 billion.
Company's Financial Strategy
The additional acquisition was funded through the sale of company stock, a strategy that has allowed MicroStrategy to continue accumulating Bitcoin without depleting cash reserves or using debt. The company's shares have seen significant growth since 2020.
MicroStrategy's Future Plan
Following this acquisition, CEO Michael Saylor and President Phong Le announced a '21/21 Plan' aimed at raising $42 billion for further increasing Bitcoin holdings, through a mix of equity and debt.
With new acquisitions and ambitious plans, MicroStrategy continues to cement its role in the cryptocurrency space, adhering to its strategy of utilizing Bitcoin as a primary reserve asset.
