- MicroStrategy acquired 21,550 BTC, bringing its total holdings to 423,650 BTC, worth $41.5 billion.
- Riot Platforms, Marathon Holdings and Metaplent Expand Bitcoin Investments Following MicroStrategy’s Strategy.
MicroStrategy has once again made headlines with its aggressive Bitcoin [BTC] accumulation strategy, marking the fifth consecutive week of buying.
According to the recent submit with the SEC, the company acquired another 21,550 BTC last week, investing approximately $2.1 billion.
This latest acquisition brings total Bitcoin holdings to an impressive 423,650 BTC, now valued at nearly $41.5 billion at current market prices.
For those who don’t know, MicroStrategy’s Bitcoin reserves account for more than 2% of its total supply of 21 million BTC, underscoring its commitment to the cryptocurrency.
Funded by a $2.13 billion stock sale as part of the broader $42 billion plan, the move highlights MicroStrategy’s reliance on equity issuances and convertible bonds to cement its position as one of the largest Bitcoin holders in the world.
What led to MicroStrategy’s acquisition of Bitcoin?
Some believe that Bitcoin’s remarkable rally past the $100,000 mark has paved the way for MicroStrategy’s latest strategic acquisition.
Although the cryptocurrency briefly crossed the $100,000 mark, the cryptocurrency remains afloat, trading at $97,501.72 – down a slight 1.21% in the past 24 hours, according to CoinMarketCap.
Still, technical indicators such as the Relative Strength Index (RSI) and Chaikin Money Flow (CMF) suggest that the bullish momentum is far from over.
As expected, MicroStrategy’s recent BTC purchase echoes this surge, securing the latest purchase at an average price of $98,783 per coin.
The move follows Bitcoin’s meteoric rise below $70,000, fueled by Donald Trump’s re-election and expectations of a more crypto-friendly government, further strengthening the company’s commitment to expanding its crypto holdings.
While it once took almost a year to collect the first 100,000 coins, the company expanded its holdings from 300,000 to 400,000 in just two weeks.
MicroStrategy stock price
This period coincided with Bitcoin’s 40% price increase, propelling MicroStrategy shares to an impressive 480% gain this year.
However, recent market moves have caused volatility, with BiTC falling below $98,000 and shares of MicroStrategy falling 7.51%, currently trading at $365.34.
Other institutions are joining the battle
Inspired by MicroStrategy’s strategic Bitcoin acquisitions, several other publicly traded companies are now following suit.
For example, Riot Platforms recently announced a $500 million convertible bond offering aimed at expanding its BTC holdings, while Marathon Holdings and Semler Scientific have also expressed similar plans to increase their exposure to the cryptocurrency.
Additionally, Metaplent, dubbed “Asia’s MicroStrategy,” is preparing to raise approximately $62 million through its 12th series of Stock Acquisition Rights (SARs) to strengthen its BTC portfolio.
These moves highlight a growing trend of institutional players diversifying their financial strategies by using Bitcoin as a strategic asset.