TL;DR
- MicroStrategy increased its Bitcoin reserve to 446,400 BTC with a purchase of 2,138 BTC valued at $209 million.
- The company requested SEC approval to issue new shares and raise capital for future Bitcoin acquisitions.
- Its inclusion in the Nasdaq 100 strengthens its financial position and could attract up to $2 billion in passive institutional investment flows.
MicroStrategy, the largest corporate holder of Bitcoin, continues to acquire as much cryptocurrency as possible, having reached a reserve of 446,400 BTC.
The latest purchase, valued at approximately $209 million, consisted of 2,138 Bitcoin, raising the total value of its reserve to nearly $27.9 billion. This acquisition is part of the firm’s strategy to increase its stake in Bitcoin, a priority for the company since its initial investments in the crypto industry.
MicroStrategy made the purchase at an average price of $97,837 per Bitcoin. The company remains committed to the future of the cryptocurrency despite the volatility experienced in recent weeks. The price of BTC has fallen 15% from its all-time high, but the company’s strategy continues to focus on strengthening its balance sheet with Bitcoin, adding over $13 billion in unrealized gains due to its previous purchases.
MicroStrategy has also filed a request with the SEC to issue new shares worth billions of dollars. The proposal aims to increase the number of common and preferred shares to raise capital for future Bitcoin acquisitions.
MicroStrategy Joins the Nasdaq 100
Moreover, MicroStrategy’s inclusion in the Nasdaq 100 has bolstered its position within the financial market. This milestone is expected to generate up to $2 billion in passive fund inflows. The inclusion will enhance its visibility among institutional investors and could positively impact its stock performance on the exchange.
On the other hand, MicroStrategy has not escaped criticism for its Bitcoin strategy. Peter Schiff, known for his skepticism toward BTC, stated that the company’s acquisitions might not be enough to sustain the cryptocurrency’s price, suggesting that the latest purchases, made at prices above the current level, might not have the same impact as earlier ones.
Regardless of detractors’ opinions, MicroStrategy remains a fundamental player in the crypto market. Its unwavering focus on Bitcoin accumulation has been a source of inspiration for many institutions that have begun to follow a similar path
