MicroStrategy CEO Michael Saylor announced On September 20, it announced that the company had purchased 7,420 additional bitcoins at a cost of approximately $489,000,000. Now, the company holds 252,000 Bitcoins acquired at a cost of $9.9 billion.
MicroStrategy purchases another 7,420 #Bitcoin The amount is $458.2 millions. pic.twitter.com/4nBm3EUH6M
— Bitcoin Magazine (@BitcoinMagazine) September 20, 2024
MicroStrategy adopted a Bitcoin focused corporate strategy in 2020. The company is taking full advantage of Bitcoin’s capacity as a store of value and inflation hedge. The company’s stockpile of over 252,000 Bitcoins is worth $15 billion. It has increased the value for shareholders.
MicroStrategy borrowed money to purchase Bitcoin by issuing convertible senior note. It recently raised over $1 billion Note offerings is a way to get more Bitcoin. This is a model that other public companies are following. “buy Bitcoin” Bitcoin as a corporate strategy for profiting from its growth
MicroStrategy’s Bitcoin Treasury Purchases are like large-scale purchases “speculative attack” against fiat currencies. If the bitcoin is still undervalued and exchanged for fiat, then the company will reap massive returns.
MicroStrategy is attempting to take on the biggest speculative challenge in the history of fiat currencies by adding a highly resilient asset into its Treasury. MicroStrategy is a leading example of how other public companies can emulate MicroStrategy’s Bitcoin Treasury strategies.
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Source: bitcoinmagazine.com
