Once again, MicroStrategy has demonstrated its commitment to the bitcoin market. Although their recent purchase was small (only 169 bitcoins), there seems to be no end in sight, as they also announced plans to buy an additional $2.0 billion worth of bitcoin.
On August 11, 2020, MicroStrategy made its first purchase. The bitcoin world was shocked as this was the first major company to buy bitcoin, with an initial purchase of 21,454 bitcoins.
Four years later, MicroStrategy now holds a total of 226,500 bitcoins, with a current market value of $14.6 billion. They didn't pay that much; they paid 'only' $8.3 billion, which means they have an unrealized profit of approximately $6.3 billion—about a 75% increase from their initial investment.
But that's still not enough. When announcing their Q2 financial results, MicroStrategy stated, "We are filing a registration statement for a new $2 billion at-the-market equity offering program." This is roughly 15% of their current investment. All indications are that this move is intended to purchase additional bitcoin. At the current market value of $65,000, this would amount to an extra 30,750 bitcoins.
We look forward to seeing these orders 👀
Written by maartunn
