MicroStrategy Keeps Accumulating Bitcoin (BTC) and Nears 500,000 BTC Threshold

Strategy is once again making headlines with a new bitcoin acquisition. With this latest operation, the company surpasses 499,000 BTC. This strengthens its position among the leading bitcoin holders in the world!

MicroStrategy (NASDAQ:MSTR) has once again made headlines with a new bitcoin acquisition. This latest operation brings the company’s total BTC holdings to over 499,000. Among the leading bitcoin holders in the world, Strategy is not planning to stop there.

MicroStrategy bought 20,356 bitcoins for $1.99 billion at an average price of $97,514 per BTC. This recent acquisition is part of a broader strategy to strengthen its position in the digital asset market. According to Executive Chairman Michael Saylor, the total cost of the acquisition is $33.1 billion.

The recent bitcoin acquisitions follow a $2 billion convertible bond issuance that was recently closed. This operation thus allows Strategy to finance its BTC acquisition strategy, despite a mixed outlook for its core business in 2024.

MicroStrategy's reserves are approaching nearly 500,000 BTC With a total of 499,096 BTC, the company is nearing the symbolic threshold of 500,000 bitcoins. Despite volatility in the bitcoin market, Strategy's accumulation strategy seems well-defined.

Some Wall Street analysts consider this strategy rational despite the risks. Other institutional investors like BlackRock and CalSTRS continue to support Strategy by increasing their stakes in the company. The latter also benefits from strong capitalization, although Strategy's stock has recently dropped. According to data, it closed at $299.69.

With nearly 500,000 bitcoins in its reserves, MicroStrategy continues to bolster its position in the cryptocurrency market, while Metaplanet aims to reach 10,000 BTC by 2025. This bold (if risky!) strategy could well define a new era of institutional investments in bitcoin.