MicroStrategy Becomes Largest Bitcoin Holder with $4.6 Billion Purchase
MicroStrategy Inc., a leader in institutional cryptocurrency investment, has strengthened its position as the largest corporate Bitcoin holder. In November, the company made a record-breaking $4.6 billion Bitcoin purchase, acquiring approximately 51,780 BTC between November 11 and 17, as revealed in a U.S. Securities and Exchange Commission (SEC) filing.
This acquisition follows earlier Bitcoin buys, including over 27,000 BTC in early November and two significant purchases in September, bringing the company’s total holdings to an estimated $30 billion in Bitcoin.
Michael Saylor's Vision for Bitcoin Investment
Since 2020, MicroStrategy's co-founder and chairman, Michael Saylor, has championed Bitcoin as a key component of the company’s strategy. Initially leveraging cash reserves, the company expanded its buying power through stock and convertible debt sales. On October 30, MicroStrategy announced plans to raise $42 billion via share and fixed-income instrument sales, further fueling its Bitcoin accumulation.
Share Sale Program Fuels Expansion
Between November 11 and 17, the firm raised substantial capital through its at-the-market (ATM) share sale program, issuing 13.6 million shares. This initiative is part of a broader $21 billion fundraising effort that highlights robust investor confidence in MicroStrategy's bold approach.
The company’s stock has skyrocketed over 400% year-to-date, making it one of 2024's top-performing major stocks. This surge underscores the growing appeal of Bitcoin as an inflation hedge and a strategic financial asset.
A Record-Setting Bitcoin Portfolio
To date, MicroStrategy has accumulated 331,200 Bitcoin at a total cost of $16.5 billion—well below its current market value. By leveraging capital markets to fund its purchases, MicroStrategy has emerged as a trailblazer in institutional Bitcoin investment, setting a precedent for other corporations exploring cryptocurrency as a financial innovation.
MicroStrategy’s bold strategy continues to solidify its leadership in the evolving crypto landscape, offering a glimpse into the future of institutional cryptocurrency adoption.
