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MicroStrategy Continues Bitcoin Buying Streak With Rumble and Genius in Tow

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Giuseppe Ciccomascolo
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Key Takeaways
  • MicroStrategy snaps up 11,000 Bitcoin, marking its eleventh straight week of acquisitions.
  • The company raised $1.1 billion by selling 3 million shares to fund the latest Bitcoin haul.
  • Canadian firm Rumble and AI-driven Genius Group also joined the Bitcoin buying spree.

MicroStrategy isn’t slowing down on its Bitcoin binge. The company announced  it scooped up 11,000 BTC last week, shelling out a cool $1.1 billion.

Following Michael Saylor’s company lead, other companies, such as Canadian video-sharing platform Rumble and AI company Genius Group, also joined the fray.

MicroStrategy Buys 11,000 Bitcoin

Michael Saylor’s firm has now amassed a staggering 461,000 Bitcoin , valued at $48 billion at current prices.

The latest buy, averaging $101,191 per coin, marks MicroStrategy’s eleventh consecutive week of Bitcoin acquisitions, further solidifying its position as a corporate crypto giant.

MicroStrategy’s total Bitcoin investment now stands at approximately $29 billion, with an average purchase price of $63,610 per coin.

This latest spree was funded by selling 3.01 million shares, raking in $1.1 billion in net proceeds, as disclosed in a recent SEC filing .

The company still has $5.4 billion in shares available for sale under its current agreement, suggesting the Bitcoin buying is far from over.

Rumble and Genius Group Join the Bitcoin Bandwagon

Not to be left behind, Canadian video-sharing platform Rumble made its first foray into Bitcoin , purchasing an undisclosed amount of BTC on Jan. 17.

CEO Chris Pavlovski hinted  at future acquisitions, aiming to protect the company against inflation and economic uncertainty.

Though the exact amount remains under wraps, reports suggest Rumble could have invested up to $20 million.

The move follows the company’s earlier commitment to allocate up to $20 million in Bitcoin as part of its corporate reserves strategy.

Meanwhile, AI company Genius Group  has expanded its Bitcoin holdings to 420 BTC, totaling $40 million at an average price of $95,912 per Bitcoin.

This aligns with its “Bitcoin-first” strategy, targeting $120 million in Bitcoin reserves.

The company has funded these purchases through reserves, an ATM facility, and $19 million in debt financing from Arch Lending.

The company also plans to raise $50 million via rights offering to fuel further Bitcoin purchases, signaling a long-term commitment to the crypto economy.

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Giuseppe Ciccomascolo

Giuseppe Ciccomascolo began his career as an investigative journalist in Italy, where he contributed to both local and national newspapers, focusing on various financial sectors. Upon relocating to London, he worked as an analyst for Fitch's CapitalStructure and later as a Senior Reporter for Alliance News. In 2017, Giuseppe transitioned to covering cryptocurrency-related news, producing documentaries and articles on Bitcoin and other emerging digital currencies. He also played a pivotal role in establishing the academy for a cryptocurrency exchange website. Crypto remained his primary area of interest throughout his tenure as a writer for ThirdFloor.
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