Thousands of bitcoins rain down! You’d think it was MicroStrategy’s never-ending quest to tirelessly continues to acquire bitcoinswhether it’s sunny or rainy, or even when the snow falls on the cryptocurrency price. Indeed, last night, the company founded by Michael Saylor has struck again, adding 467 BTC to its already colossal treasure of 152,800 bitcoins. A veritable accumulation of digital wealth that seems to know no bounds.
MicroStrategy swears by the queen of cryptocurrencies: bitcoin
The news, as is often the case, was announced by Michael Saylor on his Twitter account.
« In July, MicroStrategy acquired an additional 467 BTC for $14.4 million and now holds 152,800 BTC. (…) »
In the details provided, we learn that since the first quarter, MicroStrategy has acquired a total of 12,800 BTC for an impressive amount of 361.4 million dollarsestablishing an average purchase price of around 28,233 per BTC.
With the current BTC rateMicroStrategy’s treasure trove of 152,800 BTC is worth an incredible $4 billion. A value that continues to attract attention and confirms the company’s powerful positioning.
>> Prefer to keep your bitcoins safe? Choose a Ledger wallet (commercial link) <<
Vertiginous BTC reserves
As explained in the press release from MicroStrategythe company continued its bitcoin accumulation strategy, and even in the second quarter of this year, MicroStrategy managed to add 12,333 bitcoins to its digital treasure trove.
This decision to invest heavily in BTC from the beginning of 2023, and even well before, is explained by the company’s desire to follow a strong trend observed among institutional investors. Indeed, more and more institutions are recognizing the potential and importance of bitcoin as a solid store of value and a leading digital asset.
« Our bitcoin holdings grew to 152,800 bitcoins as of July 31, 2023, with the second-quarter addition of 12,333 bitcoins being the largest single-quarter increase since Q2 2021. We have efficiently raised capital through our market share program and used cash from operations to continue increasing bitcoins on our balance sheet. And we did so against the promising backdrop of growing institutional interest, advances in accounting transparency and continued regulatory clarity for bitcoin. »
Andrew Kang, CFO MicroStrategy
Buy more and more bitcoin
Such seems to be the adage of the company that in a deposit with the SEC on August 1ᵉʳ confirmed this buying fever. Indeed, beyond this BTC purchase over the second half of the year, the company plans to raise $750 million via a share sale that would enable it to buy ever more BTC.
« As with previous programs, we can use the proceeds for general corporate purposes, which include the purchase of Bitcoin as well as the redemption or repayment of our outstanding debt. »
Andrew Kang
MicroStrategy now holds 0.8% of the total supply of bitcoins in circulation, making it a veritable crypto whale, creating an impressive supply of BTC. This choice to accumulate so many bitcoins is hardly surprising, given the consistent strategy adopted by the company to date. Indeed, institutional investors are increasingly attracted to bitcoin, and this only confirms this trend. Personalities such as Michael Novogratz have also expressed their interest in BTCsharing advice on building an ideal portfolio. In their recommendations, ETH and BTC unsurprisingly feature prominently.
To store your cryptos, nothing beats a Ledger wallet. The Nano S and Nano X offer security and ease of use. In fact, they are compatible with the vast majority of cryptos and networks. They are an absolutely essential alternative to all the exchanges that offer to hold your assets for you. Remember, « Not your keys, not your coins »!