MicroStrategy's total Bitcoin holdings reach 331,200 BTC, now valued at over $30 billion at current market prices.
The $4.6 billion purchase was funded by selling 13.6 million shares under MicroStrategy’s expansive 21/21 growth strategy.
Economist Peter Schiff predicts the company’s $42 billion Bitcoin acquisition plan may accelerate and conclude earlier than expected.
Leading business intelligence firm MicroStrategy has taken a significant step in its Bitcoin acquisition strategy. According to recent regulatory filings, the company invested $4.6 billion to purchase 51,780 Bitcoin, increasing its total holdings to 331,200 BTC. The purchase occurred at an average price of $88,627 per Bitcoin, further solidifying its position as the largest corporate Bitcoin holder.
https://twitter.com/BTC_Archive/status/1858527737276703109
Aligning with Long-Term Reserve Strategy
This acquisition aligns with MicroStrategy's policy of holding Bitcoin as a core reserve asset. The company continues to integrate cryptocurrency into its corporate treasury, emphasizing its confidence in Bitcoin's long-term value. The strategy highlights MicroStrategy's ongoing commitment to advancing institutional adoption of digital currency.
MicroStrategy financed the latest purchase through its 21/21 growth strategy, which targets $42 billion in equity and debt sales over three years. Between November 11 and November 17, the company raised $4.6 billion by selling 13.6 million shares, directly funding the recent Bitcoin acquisition. Since August 2020, MicroStrategy has spent approximately $16.5 billion on Bitcoin, with an average cost of $49,874 per BTC.
Peter Schiff Critiques the Aggressive Plan
Economist Peter Schiff, a long-time cryptocurrency skeptic, commented on MicroStrategy's rapid spending pace. He noted that the company has already used $6.63 billion of its $42 billion goal within weeks. Schiff humorously suggested that the strategy could conclude in less than four months if maintained at this rate. His remarks also hinted that Executive Chairman Michael Saylor might need to develop an even larger plan sooner than anticipated.
With this purchase, MicroStrategy further cements its leadership among institutional Bitcoin holders. The company's holdings are now worth over $30 billion at current market prices, a significant increase from its total acquisition cost. Bitcoin's recent price surge beyond $90,000 has further validated the firm's strategic decisions, reinforcing its belief in the cryptocurrency's growth potential.
Institutional Influence on Bitcoin Adoption
MicroStrategy’s actions continue to inspire other organizations, including Marathon Digital Holdings, to adopt similar strategies. By maintaining its aggressive investment in Bitcoin, the company is driving institutional adoption and shaping the digital currency market. This latest development highlights the growing role of corporations in strengthening Bitcoin’s position as a mainstream asset class.
