MicroStrategy co-founder, Micheal Saylor, shared on X that the company added 2,530 more bitcoin worth about $243 million to its Bitcoin holdings. These new bitcoins were bought between January 6 and January 12 at an average price of $95,972 each.
With this new purchase, MicroStrategy now holds a total of 450,000 Bitcoin bought at an average price of $62,691 per coin.
At the current market price of $92,000, their holding would be valued at an estimated $40.8 billion. So far the corporate giant has invested $28.2 billion in Bitcoin, giving them a hefty profit of $12 billion.
This makes MicroStrategy the largest corporate holder of Bitcoin. Thanks to this, they are now controlling approximately 2.1% of the total Bitcoin supply.
MicroStrategy’s dedication to Bitcoin has been rock solid, as proved by their actions, as this is the company’s tenth week in a row of acquiring Bitcoin. A journey that began on October 31 when it shared its “21/21 Plan.” to utilise share sales and various fundraising techniques to amass Bitcoin.
During the Bitcoin purchase window in January, MicroStrategy also sold 710,425 shares, successfully raising $243 million. According to its SEC filing, the company still possesses $6.5 billion worth of shares that are available for future sales to raise more funds.
Michael Saylor has always described Bitcoin as a core component of MicroStrategy’s plan. The company has been buying a lot of Bitcoin since 2021, especially during short price drops.
In its “21/21 Plan”, the company said it aims to raise $21 billion in equity and $21 billion in fixed-income securities to support its Bitcoin reserves. As of December 15, approximately $7.65 billion worth of shares remained for sale under this plan.
MicroStrategy is also working to raise up to $2 billion by offering perpetual preferred stock. In the next three years, they plan to raise $42 billion with this strategy.
Last year MicroStrategy had a good run as its stock outperformed Bitcoin and was also added to the Nasdaq index in late December.
Meanwhile, Bitcoin’s price has dropped 9% since last week after hitting its weekly high at $103 on Jan 7. It is currently sitting around $90,500, according to CoinGecko. However, people believe Trump’s inauguration, set for January 20, will give the crypto market the boost it needs.
