Michael Saylor the founder of MicroStrategy Now Owns Over 1% of the Total Bitcoin Supply.
MicroStrategy Firm’s relentless pursuit of Bitcoin accumulation. The latest acquisition, costing $623 million, showcases the company’s strategic investment at an average price of $67,382 per BTC.
That move follows the successful $603 million offering of senior convertible notes due 2031, aimed at bolstering Bitcoin reserves. The net proceeds from this sale were approximately $592.3 million, factoring in discounts, commissions, and estimated offering expenses.
Perviously , MicroStrategy’s Bitcoin portfolio stood at 205,000 BTC. The company’s aggressive investment strategy briefly positioned it ahead of BlackRock’s spot Bitcoin exchange-traded fund (ETF), IBIT, in terms of holdings, overtaking even the asset management titan.
Despite the significant Bitcoin purchase, MicroStrategy’s shares dipped by 5.7% on March 19 amidst a broader decline in the cryptocurrency market. This pullback follows an 18% price correction in Bitcoin, which dropped from $74,000 to $60,800.
Decrease in Bitcoin’s value, analysts remain optimistic about its long-term potential, though concerns about MicroStrategy’s debt-funded approach have been raised. Analysts from JPMorgan caution against the risks of leveraging in the crypto rally, suggesting that it could exacerbate potential downturns.
Nonetheless, MicroStrategy’s strategy, led by Saylor’s vision, remains unwavering. The firm aims to leverage cheap capital to maximize its Bitcoin acquisitions, viewing the digital asset as the ultimate investment
