🛒MicroStrategy has bought Bitcoin again, and the current total reserves have exceeded 423,000!
On Monday, MicroStrategy CEO Michael Saylor announced on social media that the company had once again made a large-scale Bitcoin acquisition.
According to Saylor's post, MicroStrategy purchased 21,550 Bitcoins for approximately $2.1 billion, with an average price of approximately $98,783 per Bitcoin. The transaction increased MicroStrategy's total Bitcoin holdings to 423,650, which were acquired at a price of approximately $60,324 per Bitcoin, costing a total of approximately $2.56 billion.
Saylor emphasized that this purchase not only increased the company's Bitcoin reserves, but also achieved an annualized return of 68.7%. He further pointed out that as of December 8, 2024, MicroStrategy's Bitcoin holdings had a year-to-date (YTD) return of 43.2%, and an annualized return of 68.7%. This shows that MicroStrategy's strategy for Bitcoin investment is generating positive returns.
In addition, Saylor even said in a recent interview with Barstool Sports founder Dave Portnoy that he would continue to buy Bitcoin even if the price reached $1 million because he believes that Bitcoin gives holders the power to control their own funds and he believes that Bitcoin's creator Satoshi Nakamoto designed a system that everyone can benefit from.
However, this strategy has also received some criticism. For example, Peter Schiff suggested in his reply that Bitcoin's price could be lower without leverage to buy Bitcoin. He suggested that once MicroStrategy completes the purchase, the price may fall, and when creditors force the company to sell Bitcoin, the price will fall further. This view reflects concerns about MicroStrategy's highly leveraged investment strategy and the impact of volatility factors on the Bitcoin market.
Nevertheless, this bold move by MicroStrategy has undoubtedly deepened its position as the world's largest corporate holder of BTC and may have a demonstration effect on other companies and investors.
💬What do you think of MicroStrategy's massive purchase of Bitcoin again? Do you think this highly leveraged investment strategy is a wise move? Leave your opinions in the comments section!