Despite entering a new year, MicroStrategy, led by CEO Michael Saylor, continues its acquisition strategy for Bitcoin as it buys another $101 million worth of the cryptocurrency. This brings their total holdings to an impressive 447,470 BTC. The company recently sold off shares to finance the purchase, but still has plans to acquire more BTC in the future. The firm's recent purchase is part of their 21/21 plan, which includes equity and fixed-income securities capital raise to fund further BTC purchases.
Michael Saylor's Unwavering Bitcoin Acquisition Strategy: MicroStrategy's Latest $101 Million Purchase
Introduction
Michael Saylor, CEO of MicroStrategy, has emerged as a vocal advocate and ardent investor in Bitcoin. Despite market fluctuations, his company has consistently allocated significant financial resources to acquire the cryptocurrency. MicroStrategy's latest purchase of $101 million worth of Bitcoin underscores Saylor's unwavering belief in its long-term value.
Background
MicroStrategy first purchased Bitcoin in август 2020 with a total investment of $250 million. Since then, the company has repeatedly added to its holdings, viewing Bitcoin as a "digital gold" and a hedge against inflation. In December 2021, MicroStrategy sold approximately $500 million worth of its stock to finance further Bitcoin purchases.
Latest Purchase
On January 27, 2023, MicroStrategy announced that it had purchased an additional 2,500 Bitcoins for approximately $101 million. This purchase brings the company's total Bitcoin holdings to 447,470 BTC, valued at over $11.3 billion.
21/21 Plan
Saylor has outlined a "21/21 Plan" for MicroStrategy, which involves raising capital through equity and fixed-income securities issuance to fund future Bitcoin purchases. This plan aims to reach a target of 91,064 BTC by 2023.
Top 5 FAQs
1. Why is MicroStrategy investing so heavily in Bitcoin?
MicroStrategy views Bitcoin as a long-term store of value, a hedge against inflation, and a bridge to the future of digital currencies.
2. How has MicroStrategy funded its Bitcoin purchases?
MicroStrategy has raised capital through debt issuance, equity sales, and convertible notes to finance its Bitcoin acquisitions.
3. What is the 21/21 Plan?
The 21/21 Plan is a capital-raising strategy designed to acquire 91,064 BTC by 2023.
4. How much Bitcoin does MicroStrategy currently hold?
As of January 27, 2023, MicroStrategy holds 447,470 BTC.
5. What is Michael Saylor's outlook on Bitcoin?
Saylor has repeatedly expressed his bullish view on Bitcoin, predicting it will become a global reserve asset.
Conclusion
Michael Saylor's unwavering commitment to Bitcoin through MicroStrategy's aggressive acquisition strategy reflects his profound belief in its long-term potential. As the cryptocurrency market continues to evolve, Saylor's steadfastness serves as a testament to his vision for Bitcoin's transformative impact on the global financial system.
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