Microstrategy doubles down on Bitcoin with a $2.1 billion investment as part of the company’s ambitious 21/21 plan. (Photo illustration by Chesnot/Getty Images)
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Key Takeaways
MicroStrategy brings total holdings to 423,650 BTC.
The firm has invested $26 billion in Bitcoin and now sits on a $15 billion profit.
Its aggressive 21/21 plan aims to purchase $42 billion in Bitcoin over three years.
The buy, completed at an average price of $98,783 per Bitcoin, underscores the company’s unyielding belief in Bitcoin’s long-term potential despite its volatile price movements.
The company now holds 423,650 BTC, acquired at an average price of $60,324 per Bitcoin, totaling approximately $25.6 billion.
With the current valuation hovering around $41 billion, MicroStrategy’s bold Bitcoin bet has netted the firm a profit of over $15 billion.
Michael Saylor, the company’s executive chairman and a prominent Bitcoin advocate, has been steadfast in his strategy.
Despite critics questioning the risks of such concentrated exposure, Saylor has repeatedly affirmed the company’s commitment to raising capital through equity and debt offerings to fuel Bitcoin acquisitions.
MicroStrategy BTC purchase history. Source: Bitbo Treasuries.
Leading the Institutional Bitcoin Wave
MicroStrategy’s bold strategy has inspired a wave of institutional Bitcoin adoption.
The company’s early moves during the 2020-21 bull cycle influenced major players like Tesla and SpaceX, which subsequently added Bitcoin to their balance sheets.
As of 2024, 91 publicly listed companies now hold Bitcoin as part of their treasury, collectively benefiting from the dual effect of rising Bitcoin prices and soaring stock valuations.
Prashant Jha is a seasoned crypto journalist based in Delhi, India, with a Bachelor’s Degree in Computer Science Engineering. Passionate about the evolving world of blockchain and cryptocurrencies, he has been a dedicated voice in the industry since 2018. Prashant’s expertise lies in regulatory reporting, where he unravels complex legal and financial developments with clarity and precision. Before joining CCN in 2024, he honed his craft at Cointelegraph, establishing himself as a trusted name in crypto journalism.
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