Strategy Inc. has significantly increased its bitcoin reserves, acquiring approximately 20,356 bitcoins for $1.99 billion, nearing the 500,000 token mark.
Major Bitcoin Purchase
Strategy Inc. recently bolstered its bitcoin assets by purchasing 20,356 bitcoins at an average price of $97,514 per token. The company's total bitcoin holdings now stand at 499,096 tokens, approximately valued at $47.8 billion.
Financing Through Convertible Bonds
The latest bitcoin purchase was financed through a $2 billion convertible bond offering. These bonds, maturing in 2030, can be converted into equity at an initial rate of $433.43 per share. This move aligns with the company's broader strategy to raise $21 billion through equity and bonds.
Michael Saylor's Vision for Bitcoin's Future
Michael Saylor, Executive Chairman of Strategy Inc., is a vocal proponent of bitcoin as a primary store of value. He predicts bitcoin's price could reach $13 million by 2045, driven by increased investor adoption and decreased volatility.
Strategy Inc. continues to expand its bitcoin reserves, showcasing confidence in the cryptocurrency's future as a significant financial instrument.
