Key Points
- MicroStrategy purchased another 21,550 Bitcoin (BTC), increasing its total holdings to 423,650 BTC, valued at $41.5 billion.
- Riot Platforms, Marathon Holdings, and Metaplent are expanding their Bitcoin investments, inspired by MicroStrategy’s strategy.
MicroStrategy continues to make news with its aggressive Bitcoin accumulation plan, marking five consecutive weeks of purchases.
The firm recently added 21,550 BTC to its portfolio, investing roughly $2.1 billion, according to an SEC filing.
This acquisition brings MicroStrategy’s total Bitcoin holdings to 423,650 BTC, valued at nearly $41.5 billion.
It’s worth noting that MicroStrategy’s Bitcoin holdings account for over 2% of the total 21 million BTC supply, demonstrating the company’s commitment to the cryptocurrency.
MicroStrategy’s Bitcoin Acquisition
The latest acquisition was funded by a $2.13 billion share sale as part of a larger $42 billion plan. This strategy underscores MicroStrategy’s reliance on share issuances and convertible notes to establish itself as one of the world’s largest Bitcoin holders.
The recent Bitcoin rally past the $100,000 milestone has been a significant factor in MicroStrategy’s latest strategic acquisition.
Despite a slight dip, Bitcoin remains strong, trading at $97,501.72. Technical indicators suggest that the bullish momentum is far from over.
MicroStrategy’s recent Bitcoin purchase corresponds with this surge, securing its latest stash at an average price of $98,783 per coin.
This move follows Bitcoin’s rapid rise from under $70,000, driven by political factors and a more crypto-friendly administration.
Other Institutions Joining Bitcoin Investment
MicroStrategy’s strategic Bitcoin acquisitions have inspired other publicly traded companies.
Riot Platforms recently announced a $500 million convertible bond offering to expand its Bitcoin holdings. Marathon Holdings and Semler Scientific have also expressed similar plans.
Metaplent, known as ‘Asia’s MicroStrategy,’ plans to raise approximately $62 million to bolster its Bitcoin portfolio.
These developments underscore a growing trend of institutional players diversifying their financial strategies by using Bitcoin as a strategic asset.
