{"id":3975,"date":"2024-12-10T01:04:42","date_gmt":"2024-12-10T01:04:42","guid":{"rendered":"https:\/\/dogewisperer.com\/?p=3975"},"modified":"2024-12-10T01:04:42","modified_gmt":"2024-12-10T01:04:42","slug":"microstrategy-expands-bitcoin-holdings-with-21550-btc-purchase-for-2-1-billion","status":"publish","type":"post","link":"https:\/\/dogewisperer.com\/?p=3975","title":{"rendered":"MicroStrategy Expands Bitcoin Holdings With 21,550 BTC Purchase For $2.1 Billion"},"content":{"rendered":"
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MicroStrategy, a US-based business intelligence firm, has expanded its Bitcoin (BTC) holdings as part of its corporate treasury strategy. The company announced its latest purchase of 21,550 BTC, worth approximately $2.1 billion.<\/p>\n

MicroStrategy Unfazed by Bitcoin\u2019s Historic Price Surge<\/h2>\n

In an official announcement today, the publicly-traded company had acquired an additional 21,550 BTC. This purchase comes as Bitcoin crossed the $100,000 mark for the first time in its history, pushing the total cryptocurrency market cap to unprecedented levels.<\/p>\n

According to a filing<\/a> with the US Securities and Exchange Commission (SEC), the acquisition was funded through proceeds from issuing and selling company shares, totaling $2.13 billion. The purchase was executed between December 2 and December 8 at an average price of $98,783 per BTC, including fees and expenses.<\/p>\n

Michael Saylor, CEO at MicroStrategy, in an X post<\/a> stated that the company now holds a total of 423,650 BTC for a total acquisition cost of $25.6 billion, at an average price of $60,324 per BTC.\u00a0<\/p>\n

While many investors may have second-thoughts about buying BTC amid its historic run, Saylor seems unfazed by the digital asset\u2019s ascent. Earlier this year, Saylor said<\/a> in an interview that he would be \u201cbuying the top forever.\u201d He stated:<\/p>\n

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I\u2019m confident I\u2019ll be buying Bitcoin at $1 million per coin \u2014 likely around $1 billion worth of Bitcoin per day at that price.<\/p>\n<\/blockquote>\n

Notably, with 423,650 BTC on its balance sheet, MicroStrategy now controls just over 2% of Bitcoin\u2019s total capped supply of 21 million coins. Most recently, Saylor urged<\/a> the US government to replace gold with BTC. The Bitcoin permabull said:<\/p>\n

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Dump your gold. Sell all the US gold and buy Bitcoin. You will demonetize the entire gold asset class. And our enemies hold gold in their banks, so their assets would go to zero. Our assets would go to $100 trillion.<\/p>\n<\/blockquote>\n

Fifth-Consecutive Week Of BTC Purchase<\/h2>\n

MicroStrategy\u2019s latest acquisition marks its fifth consecutive Bitcoin purchase<\/a> in as many weeks. During this period, BTC\u2019s price has climbed by 40%, while MicroStrategy\u2019s stock (MSTR) has risen by approximately 20%.<\/p>\n

Year-to-date, MicroStrategy\u2019s stock has soared by 520%, climbing from $69 on January 1 to $388 at the time of writing. This performance has outpaced Bitcoin and the S&P 500, solidifying the company\u2019s position as a leading corporate BTC holder.<\/p>\n

\"MSTR\"<\/p>\n

MicroStrategy\u2019s highly profitable BTC strategy has also inspired<\/a> companies worldwide, including Japan-based early-stage investment firm Metaplanet. Further, Saylor has also tried<\/a> to convince tech juggernaut Microsoft to consider adding BTC to its balance sheet.<\/p>\n

That said, long-time gold bug Peter Schiff is not yet sold on BTC, saying<\/a> that MicroStrategy\u2019s Bitcoin bet will likely backfire. BTC trades at $100,192 at press time, down 0.1% in the past 24 hours.<\/p>\n

\"bitcoin\"<\/div>\n","protected":false},"excerpt":{"rendered":"

MicroStrategy, a US-based business intelligence firm, has expanded its Bitcoin (BTC) holdings as part of its corporate treasury strategy. The company announced its latest purchase of 21,550 BTC, worth approximately $2.1 billion. MicroStrategy Unfazed by Bitcoin\u2019s Historic Price Surge In an official announcement today, the publicly-traded company had acquired an additional 21,550 BTC. This purchase […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"iawp_total_views":0,"footnotes":""},"categories":[2],"tags":[3,4,5],"class_list":["post-3975","post","type-post","status-publish","format-standard","hentry","category-news","tag-crypto","tag-doge","tag-news"],"_links":{"self":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts\/3975","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=3975"}],"version-history":[{"count":0,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts\/3975\/revisions"}],"wp:attachment":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=3975"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=3975"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=3975"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}