## MicroStrategy Intensifies Bitcoin Strategy, Incorporating $10.7 Million to Assets
Michael Saylor’s Bitcoin-stockpiling giant, MicroStrategy, isn’t stopping! They’ve recently acquired an additional 130 Bitcoins for a considerable $10.7 million.
Previously recognized as MicroStrategy, the business is extremely dedicated to its objective of collecting half a million Bitcoins.
According to an X post on Monday, March 17, MicroStrategy creator Michael Saylor disclosed that the Virginia-located business obtained the coins at about $83,000 apiece. This brings their year-to-date Bitcoin profits to a strong 6.9%.
With this current acquisition, MicroStrategy presently possesses an incredible 499,226 Bitcoins, valued at over $33 billion! Their average acquisition cost is approximately $66,360 per coin. Remarkably, news of the acquisition didn’t improve their stock; STRK shares decreased 1% in pre-market trading on the Nasdaq.
Just one week earlier, MicroStrategy revealed strategies to accumulate even more capital to power their Bitcoin purchasing binge, despite current market anxieties. They plan to accumulate $2.1 billion through Class A favored stock to improve their crypto portfolio.
SEC documents reveal that MicroStrategy intends to utilize the profits for basic business functions, which might certainly involve purchasing even more Bitcoin.
This STRK stock offering complements MicroStrategy’s existing “at-the-market” (ATM) equity program, all part of their enthusiastic “21/21” plan – accumulating and investing $4.2 billion in Bitcoin Profitability Stress Reaches Levels Last Seen in September 2024, supported by Michael Saylor. And here’s a safety measure: if STRK’s worth decreases 25% below its initial offering cost, MicroStrategy can repurchase any unsold shares.
