Faithful to its economic strategy that it has now followed for several years, MicroStrategy continues to acquire a large number of Bitcoins (BTC), making the company led by Michael Saylor, the company with the largest reserve of BTC in the world.
In 4 years, MicroStrategy's Bitcoin reserve has doubled in value
Between October 31 and November 10, MicroStrategy purchased approximately 27,200 Bitcoin (BTC)for a total of $2.03 billion. Thus, the company led by Michael Saylor now owns 279,240 Bitcoinsacquired for a total amount of $11.9 billion.
By carrying out simple calculations, we can quickly notice that MicroStrategy Bitcoin average purchase price is $42,692almost half less than the current price of BTC which peaks at almost $82,000. So, at present, the company has for more than $23 billion worth of Bitcoins.
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Even more impressive, the 27,200 BTC obtained by MicroStrategy in recent days were obtained for an average price of $74,463. However, in the meantime, Donald Trump's victory in the American presidential elections had the effect of driving up the price of Bitcoin who recorded his ATH over the weekend.
In this way, the last Bitcoins purchased by the group saw their value increase by around 10% in a few days. Michael Saylor, founder of MicroStrategy, did not fail to react to this information onasserting that “ saylortracker.com [site permettant d’apprécier l’évolution de la réserve de BTC de MicroStrategy, NDLR] needed more green dots [représentant les achats réalisés par l’entreprise] “.
I think https://t.co/meaZhpFNq9 needs more green dots. pic.twitter.com/faeNCKAvNQ
— Michael Saylor⚡️ (@saylor) November 10, 2024
Microstrategy's stock price also went on the riserecording an increase of 28% these last 5 days. The company's stock even reached the 300 dollar mark at the opening of the Stock Exchange, just after announcing the purchase of its new Bitcoins.
Driven by its economic strategy centered on Bitcoin, the firm remains ambitious
For MicroStrategy and Michael Saylor, accumulating Bitcoin allows it to constitute a strategic asset reserveallowing it to guarantee good financial health in the long term. This is why the company adopted this economic strategyrecording 42 purchases of Bitcoins since August 2020.
Now, the firm wants to go further. Last month, MicroStrategy revealed his ambition to become a Bitcoin bank valued at $1,000 billion.
📰 In the news – Bitcoin exceeds $80,000 for the first time in history
If it were to achieve this objective, the company would create “ Bitcoin capital market instruments in the areas of stocks, convertible bonds, fixed income securities and preferred stocks, » according to Michael Saylor.
The group also revealed its roadmap to achieve this objective. This consists in part to continue accumulating more and more BTC. To achieve this, MicroStrategy is now launching the “21/21 Plan” aimed at raising $42 billion, which corresponds to 2.6% of the total supply of Bitcoins. This amount will be made up of 50% equities and 50% fixed income securities.
Source: Press release
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Surprised by the rise of crypto-assets at the end of the 2010s, I began to closely follow this sector which fascinates me to the greatest extent. When I'm not in football stadiums, rugby stadiums or handball halls, I work on writing relevant articles around cryptocurrencies and more broadly, Web3.
Zacharie Tazrout
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