Strategic Decision Makes Public $1.4 Billion Investment in Bitcoin
📣 Breaking News: MicroStrategy Buys Another $1.4 Billion in Bitcoin!
You bet your last buck that business intelligence firm Strategy has struck gold again! In a bombshell announcement, they've dropped another cool $1.4 billion on Bitcoin, beefing up their crypto coffers.
The company's new average buying price stands rock-solid at a whopping $68,459. With this latest purchase, Strategy is now the proud owner of 553,555 BTC, representing 2.64% of the maximum Bitcoin supply (21 million coins).
This heavy-hitting investment was totally expected by the market, following CEO Michael Saylor's social media hints the day before. As usual, the Bitcoin price has remained as chill as ever, unfazed by the news.
Currently, the world's largest cryptocurrency is cruising above the $95,000 level, according to CoinGecko data. With a high of $95,490 today, it's clear that Bitcoin's here to stay.
While Strategy's Bitcoin buys have traditionally caused little drama, Bloomberg's Eric Balchunas believes that their relentless shopping spree is the main reason why Bitcoin's price stability remains intact.
Blockstream CEO Adam Back recently voiced amazement at why more companies aren't following Strategy's lead. As a cherry on top, Strategy's shares are up by 1.4% in premarket trading after a strong 5% gain on Friday.
But what's next for the Bitcoin bulls? According to Vetle Lunde of K33 Research, only $122 million remains from Strategy's $21 billion at-the-money offering (ATM), which has already run out in a shocking six months.
Stay tuned for any upcoming "giga ATM announcements" ahead of Strategy's earnings! 💣💼🌐🐂
📊 Insights: Strategy's latest Bitcoin purchase raised their holdings to between 535,555 and 553,555 Bitcoin, amounting to approximately $54 billion at the time of purchase. The average price of the purchase was around $92,737 per Bitcoin. The company has been funding their Bitcoin purchases through equity offerings, including selling common shares and preferred shares via at-the-market programs.
📊 Insights: The company's Bitcoin strategy aims to maintain a 15% yield (return relative to shares outstanding) for 2025, with a current YTD yield of 13.7%. Leadership, including Michael Saylor, has repeatedly emphasized Bitcoin as the primary corporate treasury asset.
Source: U.TODAY on Google NewsEnrichment Data: Authored by Paul Adedoyin
- businessman Paul Adedoyin revealed that MicroStrategy's Bitcoin holdings, now at 543,555 BTC, are worth an approximate $54 billion.
- The latest Bitcoin acquisition by MicroStrategy was priced at an average of $92,737 per BTC.
- After a strong 5% gain on Friday, Strategy's shares are up by 1.4% in premarket trading, reflecting their ongoing Bitcoin trading success.
- Aker ASA's Vetle Lunde anticipates that only $122 million remains from MicroStrategy's $21 billion at-the-money offering, which has been rapidly depleted in just six months.
- Despite strong growth in Bitcoin's price and Strategy's dominance in crypto trading, the Bitcoin bull run may continue given the company's future "giga ATM announcements."
- The efforts of MicroStrategy, led by CEO Michael Saylor, to invest in Bitcoin has garnered attention from other business leaders, such as Blockstream CEO Adam Back, who believes more companies should follow Strategy's lead in finance and technology sectors.
