Publicly traded company MicroStrategy has purchased 21,550 BTC for approximately $2.1 billion. The acquisition, executed at an average price of $95,976, brings its total Bitcoin holdings to 423,650 BTC, valued at around $42 billion. With this big buy, the company now boasts over 2% of the Bitcoin supply.
MicroStrategy Purchases 21,550 BTC
According to the company’s official filing with the Securities and Exchange Commission (SEC), MicroStrategy entered into a sales agreement in October. This agreement allows the company to issue and sell shares of its class A common stock with an aggregate offering price of up to $21 billion. The sales further enabled the firm to fund its recent Bitcoin purchases, including the latest acquisition.
It’s worth noting that MicroStrategy’s CEO, Michael Saylor, has been a strong advocate for Bitcoin, and the company’s investment strategy has been focused on accumulating the pioneer crypto. While commenting on the latest purchase, the firm’s executive chairman expressed that its BTC yield has reached 43.2% quarter-to-date (QTD) and 68.7% year-to-date (YTD).
Meanwhile, a few days before the purchase announcement, the Bitcoin Maximalist, Saylor, suggested via an X post that the United States sell its $500 billion gold reserve and invest in a strategic Bitcoin reserve, mirroring El Salvador’s approach. He believes the move would benefit the U.S. economy and solidify its position as a financial innovation leader.
Interestingly, the company’s latest move marks its fifth consecutive week of Bitcoin purchases, following last week’s acquisition of 15,400 BTC for $1.5 billion at an average price of $95,976 per BTC.
BTC Garners More Attention
As the world’s first and largest crypto, coupled with the recent surge in value, BTC has gained more attention lately with other firms investing in the digital asset. Today, the Bitcoin miner Riot announced plans to offer $500 million in convertible senior notes to invest in bitcoins. As more firms invest in BTC, the crypto will likely continue to gain traction and attention.
As Bitcoin’s popularity and value continue to rise, it has also drawn the attention of critics. Peter Schiff, a former U.S. Senate candidate from Connecticut, has labeled Bitcoin “public enemy number one,” likely referring to the BTC reserve initiative backed by Donald Trump and other prominent figures in the Republican Party.
