MicroStrategy Bets Big on Bitcoin Again:
MicroStrategy just spent $2.1 billion to buy 21,550 more Bitcoins, paying about $98,783 per coin. Now, they own 423,650 Bitcoins worth $42 billion—over 2% of all Bitcoin in the world!
They funded the purchase by selling $2.13 billion in shares, doubling down on their Bitcoin strategy. This comes as Bitcoin hit $100,000, and MicroStrategy’s stock has jumped 470% this year.
It’s a bold move, but Bitcoin’s wild price swings make it risky. Will this bet pay off, or is it too much of a gamble? Investors are watching closely.
