MicroStrategy boosts its Bitcoin holdings by 27,200 BTC

11 hours ago

MicroStrategy announced an acquisition of 27,200 Bitcoins valued at $2.03 billion, reinforcing its position as the largest corporate Bitcoin holder. CEO Michael Saylor reaffirmed the company's strategy to use Bitcoin as a primary reserve asset.

New Bitcoin Purchase

MicroStrategy acquired an additional 27,200 BTC, bringing the company's total Bitcoin holdings to 279,420 BTC valued at $24.83 billion.

Financial Strategy

To fund the latest purchase, MicroStrategy used company stock sales, avoiding the need to dip into cash reserves or incur debt. Since selecting Bitcoin as a reserve asset, the company's shares have shown significant growth.

21/21 Plan

Recently, MicroStrategy launched the '21/21 Plan' aiming to raise $42 billion over three years to further increase its Bitcoin holdings.

With the additional Bitcoin acquisition, MicroStrategy solidifies its position in the crypto space. The '21/21' plan implementation underscores the company's long-term intentions regarding Bitcoin as a strategic asset.

Other news

Pennsylvania Considers Investing Up to 10% of Funds in Bitcoin for Inflation Protection

A Pennsylvania representative proposed a bill to invest up to 10% of reserves in Bitcoin as an inflation hedge.

a few seconds ago

CYBRO Forecasted for 8,000% Growth Following Solana

CYBRO attracts attention with an 8,000% growth forecast, its impactful DeFi platform, and interest from major investors.

a few seconds ago

Keanu Shakes Up the Meme Scene: Kindness on the Blockchain

Keanu aims to transform the meme world through kindness. Let's explore the project's philosophy and features.

a minute ago

Tether Introduces Hadron: A New Step in Real-World Asset Tokenization

Tether announced Hadron for asset tokenization, including stocks and bonds, opening new investment opportunities.

21 minutes ago

USDE Staking and Simple Earn: Innovative Asset Management Solutions

Gate.io announces USDE Staking and Simple Earn launch, offering new asset management opportunities.

22 minutes ago

Matt Gaetz to Become Attorney General: A Move Toward Reforms

Matt Gaetz is appointed as U.S. Attorney General, halting the investigation against him and potentially impacting the crypto industry.