MicroStrategy buys BTC once again! The well-known company in business intelligence and crypto investments strengthens its position as the largest corporate Bitcoin holder. Between November 11 and 17, 2024, they purchased 51,780 Bitcoins, further boosting their already massive collection. Here’s a detailed look at this exciting development:
How Did They Pay for It?
- The purchase was funded by selling shares under their $21 billion ATM program (At-The-Market program).
- So far, MicroStrategy has used $5.7 billion from this program.
- They still have $15.3 billion left to spend on more investments.
This program shows their commitment to expanding their Bitcoin holdings aggressively.
How Much Bitcoin Do They Own Now?
- After this purchase, MicroStrategy owns a total of 331,200 BTC.
- This represents 1.58% of all Bitcoin in circulation globally—a remarkable achievement for a single company.
Are Their Bitcoin Investments Profitable?
MicroStrategy’s Bitcoin strategy is working well:
- From October 1 to November 17, their Bitcoin investments made a 20.4% profit.
- For the whole year so far, they’ve earned an amazing 41.8% return on their Bitcoin holdings.
These returns highlight the potential of Bitcoin as a valuable asset.
What’s Next?
- At their current pace, MicroStrategy might finish their share sale program by the end of 2024.
- This would likely lead to even more Bitcoin purchases, further solidifying their dominance in the market.
Why Does This Matter?
MicroStrategy’s big Bitcoin purchases show they really believe in Bitcoin’s future. They see Bitcoin as a safe and valuable asset, especially during tough times for traditional markets like stocks. Because Bitcoin has a limited supply and is trusted worldwide, it’s becoming a popular choice for long-term investments.
Even when regular markets face problems due to changing government policies or the economy, MicroStrategy believes Bitcoin can hold its value. By buying so much Bitcoin, they are showing they want to lead the way in the world of digital money.
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(DYOR: Always Do Your Own Research before investing.)