MicroStrategy makes record-breaking $4.6 billion Bitcoin purchase, its largest investment yet

MicroStrategy makes record-breaking $4.6 billion Bitcoin purchase, its largest investment yet
фото показано с : invezz.com

2024-11-18 17:42

MicroStrategy Inc., known for its enterprise software solutions and bold foray into cryptocurrency investment, has made its largest Bitcoin purchase to date.

Between November 11 and 17, the firm acquired 51,780 BTC for approximately $4.6 billion, according to a filing with the US Securities and Exchange Commission on Monday.

With this significant acquisition, MicroStrategy now holds a total of 331,200 BTC, valued at more than $29 billion.

The company’s average cost per Bitcoin stands at $49,875, totaling $16.5 billion spent since it began buying the digital asset in 2020.

This latest move is part of an aggressive investment strategy led by co-founder and Chairman Michael Saylor, who views Bitcoin as a safeguard against inflation and a key asset for long-term growth.

MicroStrategy has ambitious plans to further expand its Bitcoin portfolio.

The company aims to raise $42 billion over the next three years under Saylor’s “21/21 Plan,” which outlines $21 billion in equity raises and $21 billion in debt offerings.

This strategic approach is designed to capitalize on Bitcoin’s projected growth, with analysts anticipating a price surge to $100,000 within the next three months.

Analysts’ view on MicroStrategy’s stock

Currently, MicroStrategy holds approximately 1.2% of the total Bitcoin supply, ranking it as the fifth-largest holder after Bitcoin’s creator Satoshi Nakamoto, Binance, BlackRock, and Grayscale.

The company’s bold acquisitions have cemented its reputation as a leading crypto hedge proxy and a prominent force in the digital asset space.

Wall Street analysts are optimistic about the potential growth of MicroStrategy’s stock, buoyed by Bitcoin’s expected climb.

Recent 12-month price targets for the company’s shares average $302.75, with high estimates reaching $385.00.

If Bitcoin’s price continues to rise, MicroStrategy’s stock could see significant gains, aligning with Saylor’s long-term vision of leveraging Bitcoin as a primary corporate asset.

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Источник: invezz.com

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