MicroStrategy boosts Bitcoin reserves to 447,470 BTC after $101 million purchase
MicroStrategy, the software company
MicroStrategy, the software company known for its aggressive Bitcoin strategy, has announced the acquisition of an additional 1,070 BTC for $101 million.
This marks the company’s ninth purchase in as many weeks, cementing its position as the largest Bitcoin holder among publicly traded firms, according to Coingape.
With this latest purchase, MicroStrategy now holds 447,470 BTC, acquired at a total cost of $27.97 billion. The company revealed that it paid an average price of $94,004 per Bitcoin in this latest transaction, significantly higher than its overall average cost of $62,503 per Bitcoin.
Plans to Raise $2 Billion for Further Purchases
The company is not slowing down. MicroStrategy recently unveiled plans to raise up to $2 billion through a public offering to fuel further Bitcoin purchases. This is in addition to a $42 billion capital raise planned over three years.
MicroStrategy’s CEO, Michael Saylor, has consistently championed Bitcoin as a superior store of value, calling it a hedge against inflation and a critical part of the company’s financial strategy.Broader Implications for Bitcoin
The accumulation trend extends beyond MicroStrategy. Whale Alert data reveals significant Bitcoin transfers, including 1,696 BTC and 1,194 BTC moved from exchanges to private wallets, signaling long-term holding strategies among other major investors.
This wave of institutional buying comes as Bitcoin recently touched the $100,000 milestone, sparking optimism for further rallies. Experts suggest that the flagship cryptocurrency’s price correction may be over, paving the way for continued upward momentum.
Meanwhile, MicroStrategy’s stock (MSTR) has responded positively, climbing over 3% on the Nasdaq to trade at around $350. The company’s continued confidence in Bitcoin showcases its commitment to shaping the financial landscape of the digital age.
Recently, MicroStrategy (MSTR) has entered the top 100 publicly traded U.S. companies, ranking 97th overall. This milestone follows a 12% surge in its stock price to $430 per share, driven by Bitcoin's all-time high.
