- MicroStrategy acquired 21,550 BTC, bringing total holdings to 423,650 BTC, worth $41.5B.
- Riot Platforms, Marathon Holdings, and Metaplent are expanding Bitcoin investments following MicroStrategy’s strategy.
As a seasoned researcher with years of experience tracking digital assets and traditional markets alike, I find MicroStrategy’s Bitcoin acquisition strategy to be nothing short of captivating. The company’s aggressive stance on accumulating BTC is reminiscent of gold rush days, but with a 21st-century twist.
Once more, MicroStrategy is grabbing attention due to its persistent approach of buying Bitcoins, making this the fifth week in a row they’ve made purchases.
Last week, I found out that my crypto investments just got a significant boost, as the company I’m invested in purchased an extra 21,550 Bitcoins, costing around $2.1 billion according to their latest SEC filing.
As a proud crypto investor, I can’t help but feel exhilarated by the news that our holdings have just increased significantly. With this recent acquisition, we now boast an impressive 423,650 Bitcoins in our portfolio, a figure that translates to a staggering $41.5 billion at today’s market prices. It’s moments like these that remind me why I chose to invest in the world of cryptocurrency.
To clarify, it’s worth noting that MicroStrategy’s Bitcoin holdings make up more than 2% of the entire 21 million Bitcoins in circulation, demonstrating their strong support for and investment in cryptocurrency.
Through a $2.13 billion stock offering, which is a part of a larger $42 billion strategy, MicroStrategy emphasizes its tendency to utilize share issues and convertible bonds to bolster its status as a top-tier global Bitcoin owner.
What led to MicroStrategy’s Bitcoin acquisition?
Some contend that Bitcoin surpassing $100,000 may have paved the way for MicroStrategy’s most recent strategic purchase.
Despite momentarily surpassing $100,000, the cryptocurrency continues to show strength, currently trading at $97,501.72 – a decrease of 1.21% over the last day, as reported by CoinMarketCap.
Despite some signs indicating a potential slowdown, technical indicators such as the Relative Strength Index (RSI) and Chaikin Money Flow (CMF) hint that the bullish trend may persist for longer.
Indeed, as anticipated, MicroStrategy’s most recent Bitcoin acquisition lines up with the current surge in value. The company has just added to its holdings, acquiring them at an average price of approximately $98,783 per coin.
As a researcher observing the cryptocurrency market, I’ve noticed that our strategic decision to increase our crypto holdings aligns with Bitcoin’s remarkable surge past $70,000. This growth was driven by the re-election of Donald Trump, which fueled expectations of a more favorable administrative stance towards cryptocurrencies, thereby strengthening our resolve to grow our digital assets portfolio.
Initially, accumulating their first 100,000 coins took almost a year, but surprisingly, they managed to increase their holdings from 300,000 to 400,000 within mere two weeks.
MicroStrategy’s stock price
During this timeframe, I observed a significant 40% increase in the value of Bitcoin. Consequently, the shares of MicroStrategy skyrocketed, resulting in a remarkable 480% year-to-date growth for the company.
Lately, the market has seen increased turbulence. For instance, Bitcoin’s price dropped to around $98,000, while MicroStrategy’s shares have fallen by 7.51% and are now valued at approximately $365.34.
Other institutions joining the fray
Drawing inspiration from MicroStrategy’s strategic Bitcoin purchases, a number of other publicly listed corporations are now adopting similar strategies.
For example, Riot Platforms has just declared a $500 million bond offering of convertibles, intending to grow its Bitcoin reserves. Similarly, Marathon Holdings and Semler Scientific have revealed intentions to boost their involvement in the world of cryptocurrency.
Moreover, the company known as Metaplent, often referred to as ‘Asia’s version of MicroStrategy’, is planning to gather around $62 million by issuing its 12th round of Stock Acquisition Rights (SARs). This move aims to bolster their Bitcoin investment portfolio.
This pattern shows a rising tendency among institutional investors adopting different financial approaches, using Bitcoin as a key component in their investment strategy.
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2024-12-10 19:04