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Summary:
MicroStrategy acquires $2 billion in Bitcoin, boosting its holdings to 499,096 BTC.
The company now controls 2.3% of the total Bitcoin supply.
This purchase is the largest since December 9 and follows a trend of weekly acquisitions since November.
Michael Saylor announced the purchase via X, continuing the company's aggressive Bitcoin strategy.
Despite a recent 4% drop, Strategy's stock has surged over 300% in the last year.
Key Takeaways
- MicroStrategy, now rebranded as Strategy, has made headlines by acquiring an additional $2 billion worth of Bitcoin.
- The company's Bitcoin treasury now stands at approximately 499,096 BTC, constituting 2.3% of the total Bitcoin supply.
- Since November, Strategy has been actively purchasing Bitcoin almost every week, primarily through debt and equity offerings.
- This latest acquisition marks Strategy's largest Bitcoin purchase since December 9.
Latest Purchase Details
On Monday, Strategy disclosed in a regulatory filing that it acquired 20,356 BTC at an average price of $97,514 each. This purchase was facilitated through a zero-coupon convertible note offering, bringing the companyâs total Bitcoin reserves to 499,096 BTC.
Market Position
With this latest investment, Strategy now possesses over 2.3% of Bitcoinâs fully diluted supply, which is limited to about 21 million BTC. According to BitcoinTreasuries, only BlackRock's iShares Bitcoin Trust holds a larger share of Bitcoin, accounting for nearly 2.8% of the total supply.
Strategy's Acquisition Strategy
Michael Saylor, Executive Chairman of Strategy, announced the recent purchase on X (formerly Twitter). Since November, the firm has been consistently adding to its Bitcoin holdings, with this weekâs transaction being the most significant since December.
Strategy's aggressive accumulation strategy has significantly boosted its market capitalization over the past few years, although some analysts express skepticism regarding the sustainability of this approach in the long run.
Stock Performance
Despite a 4% drop in late trading on Monday, Strategy's stock is still up over 300% in the past year. Meanwhile, Bitcoin has been trading around $95,000, below its record high of about $109,000 reached last month.
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