MicroStrategy announced the purchase of 27,200 bitcoins, solidifying its status as the largest corporate holder of cryptocurrency.
New Bitcoin Acquisition
Recently, MicroStrategy announced the acquisition of 27,200 bitcoins worth approximately $2.03 billion. The average purchase price was $74,463 per bitcoin.
MicroStrategy's Financial Strategy
This latest purchase was funded through the sale of company shares. This strategy allowed MicroStrategy to maintain its cash reserves, avoiding the use of debt and safeguarding its operational cash flow.
Future Investment Plans
A few weeks ago, MicroStrategy launched an ambitious '21/21 Plan,' aiming to raise $42 billion over the next three years to further increase its bitcoin assets.
MicroStrategy's recent acquisitions affirm its commitment to Bitcoin as the primary reserve asset, which, according to the company's leadership, will help protect against inflation and currency depreciation.
