MicroStrategy CEO Michael Saylor announced on September 20 that it has purchased an additional 7,420 bitcoins for approximately $489 million. The company now holds over 252,000 Bitcoin, acquired for $9.9 billion.
BREAKING: MicroStrategy buys another 7,420 #Bitcoin for $458.2 million. pic.twitter.com/4nBm3EUH6M
— Bitcoin Magazine (@BitcoinMagazine) September 20, 2024
Since 2020, MicroStrategy has adopted a Bitcoin-focused corporate strategy, taking advantage of Bitcoin’s potential as an inflation hedge and store of value. The company has accumulated over 252,000 bitcoins worth more than $15 billion, substantially increasing shareholder value.
MicroStrategy has borrowed money by issuing convertible senior notes to fund its Bitcoin purchases. It recently raised over $1 billion through note offerings, partly to acquire more Bitcoin. Other public companies have emulated this „buy Bitcoin” corporate strategy to take advantage of Bitcoin’s growth.
MicroStrategy’s Bitcoin treasu
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