In mid-2020, MicroStrategy surprised the world with a surprising policy, to say the least. Faced with a falling dollar, the company decided to convert some of its reserves into Bitcoin. Since then, it has been buying more and more.
The hoard reaches 100,000 BTC
More and more companies are making the choice to bet on Bitcoin to diversify the assets held in their reserves. MicroStrategy was one of the first major companies to take the plunge in August 2020.
Since then, the company seems to have an insatiable appetite for the queen of cryptocurrencies. Thus, on June 21, the latter announced that it had made a new substantial purchase of BTC.
In practice, the company bought an additional 13,005 BTC for the modest sum of $489 million at an average purchase price of $37,617 per bitcoin.
In total, MicroStrategy now holds 105,000 BTC, or about $3.4 billion. Across all of its purchases, MicroStrategy has averaged $26,000 per BTC, which is $6,000 less than the current price.
To finance these purchases, MicroStrategy has launched a stock offering, allowing it to sell up to $1 billion in company stock. Thus, all means are good to get more and more BTC.
