Microstrategy Doubles Down, Acquires 11,931 Bitcoin for $786M

MicroStrategy has increased its Bitcoin holdings again, buying an additional 11,931 Bitcoin for a remarkable $786 million. This latest purchase was funded through convertible notes and surplus cash, with an average buy-in price of around $65,883 per Bitcoin.

As of June 20, MicroStrategy holds an astounding 226,331 Bitcoins, bought at an average price of $36,798 each. This huge collection represents a total investment of nearly $8.33 billion. Michael Saylor, the company’s founder and chairman, has become a prominent figure in the Bitcoin world.

Under Saylor’s leadership, MicroStrategy has transformed from a lesser-known software company into a major player in the cryptocurrency space. The company now holds about 1.1% of the world’s Bitcoin supply and is valued at approximately $14.5 billion.

Bullish Predictions

MicroStrategy’s stock has soared by an impressive 135% this year, with analysts at Bernstein giving the company a strong outperform rating. They have set a price target of $2,890, suggesting another 80% growth could be on the horizon. In comparison, Bitcoin has risen by 57% over the same period. While this is significant, it still lags behind MicroStrategy’s remarkable performance.

Heavier Shares, Greater Value

With its aggressive Bitcoin accumulation strategy, each MicroStrategy share is now more weighted with Bitcoin than ever before, growing about four times in dollar terms. This growth rate is double that of Bitcoin’s spot price, highlighting the company’s strategic vision and strong market position.

MicroStrategy’s bold moves in the cryptocurrency market continue to set it apart as a leader in Bitcoin investment, showing no signs of slowing down.

MicroStrategy’s aggressive Bitcoin strategy is bold – genius or madness? Share your thoughts.