MicroStrategy has increased its total Bitcoin holdings to 720,737 BTC by purchasing $204 million worth of Bitcoin last week, with the current market value exceeding $47 billion. Announced on Monday under the leadership of Executive Chairman Michael Saylor, the company acquired 3,015 Bitcoins between February 23 and March 1 at an average price of approximately $67,700 per coin. The company’s total Bitcoin investment amounts to nearly $54.77 billion, with an average purchase price of about $75,985 per Bitcoin. Currently, Bitcoin is trading around $65,500, resulting in an unrealized loss on the company’s investment. Given the global Bitcoin supply of 21 million, MicroStrategy holds over 3.4% of the total, making it the largest publicly traded company with significant Bitcoin holdings. The investment was funded through the market sale of common and preferred shares, generating approximately $229.9 million from 1.73 million Class A common shares and around $7.1 million from 71,590 preferred shares. MicroStrategy aims to continue Bitcoin acquisitions through a $84 billion investment by 2027 as part of its “42/42” plan. Additionally, the company raised the annual dividend rate on its preferred stock to 11.5% to attract investors. This ongoing Bitcoin accumulation, which began in 2020, reflects MicroStrategy’s long-term strategy to align its assets with the potential future benefits of Bitcoin.
Source: bitcoinmagazine
