MicroStrategy's stock has risen 1,206%.%
#MicroStrategy buys 169 #BTC , bringing its total assets to 226,500 BTC.
MicroStrategy plans to raise $2 billion for further #bitcoin acquisitions.
- Since launching its bitcoin strategy in 2020, the company's stock price has risen 1,206%.
MicroStrategy, led by founder Michael Saylor, continues to emphasize bitcoin as a core part of its investment strategy.
On August 1, 2024, the company added 169 bitcoins to its already substantial assets. The $11.4 million purchase was made amid volatile market conditions, but reflects the company's continued belief that bitcoin is a stable investment asset.
the acquisition is part of a broader strategy to integrate bitcoin into the company's financial reserves, which has been underway since August 2020.
after this latest purchase, MicroStrategy reportedly has 226,500 bitcoins in its wallet. The average BTC purchase price was $36,821 per BTC. Thus, the current market value of these holdings is significantly higher than their value at the time of purchase. This speaks to the potential benefits that this approach can bring to the company.
Michael Saylor has been speaking positively about bitcoin on social media, confirming its importance in the company's financial plans.
Since the company decided to focus on bitcoin in 2020, MicroStrategy's share price has been very impressive. According to a recent report, since bitcoin was included in the company's financial plan, its share price has risen 1,206%, outperforming tech giants like NVIDIA and other traditional investments like the S&P 500 Index and gold.
However, MicroStrategy's net loss reached US$102.6 million in Q2 2024. This was mainly due to a $180.1 million depreciation in bitcoin.
This figure increased year-over-year, reflecting the volatile valuation of cryptocurrencies.
MicroStrategy has filed with the U. S.
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