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MicroStrategy, the software company famous for its Bitcoin accumulation strategy, has purchased an additional 2,530 Bitcoin for approximately $243 million, increasing its total holdings to about 450,000 BTC. This acquisition marks the company’s 10th consecutive weekly Bitcoin purchase, further solidifying its position as the world’s largest corporate holder of Bitcoin.
The purchase follows the strategy of Michael Saylor, MicroStrategy’s executive chairman, who previously announced his “21/21” plan, aimed at accumulating $42 billion worth of Bitcoin over three years. Saylor’s approach, often referred to as the “infinite money glitch,” involves selling company stock (MSTR) to fund Bitcoin purchases. This strategy has been adopted by other firms, including Marathon Holdings and Metaplanet, in an effort to build their own corporate Bitcoin reserves.
Since 2020, MicroStrategy has spent an estimated $28.2 billion on Bitcoin, with the average price of the acquired BTC at $62,691 per coin. The company’s Bitcoin holdings are currently valued at more than $41 billion, based on the latest Bitcoin price of $91,600. This reflects a significant increase in value from the initial purchase prices, even as Bitcoin experienced a slight 3.2% drop in the last 24 hours.
The company’s continued Bitcoin purchases reflect Saylor’s belief in Bitcoin’s long-term value, and the strategy has garnered significant attention from the corporate world. Wall Street giant Fidelity recently predicted that more companies that were previously hesitant to invest in Bitcoin will begin adding it to their balance sheets in 2025, as corporate adoption of the cryptocurrency is expected to accelerate.
MicroStrategy’s aggressive Bitcoin acquisition strategy has drawn both admiration and skepticism, with critics questioning the volatility of Bitcoin and the potential risks to the company’s financial stability. Nevertheless, Saylor’s commitment to Bitcoin remains unwavering, and the company’s massive Bitcoin holdings continue to shape discussions around the role of cryptocurrencies in corporate treasuries.
