MicroStrategy has once again demonstrated its commitment to the Bitcoin market. Recently, the company purchased 169 Bitcoins. In addition to this, they have announced plans to buy an additional $2 billion worth of Bitcoin, according to CryptoQuant.
MicroStrategy Holds 226,500 Bitcoins Worth $14.6B After Four Years
MicroStrategy entered the Bitcoin market for the first time in a big way on August 11, 2020, with its initial purchase of 21,454 Bitcoins. This caused surprise for many because it was the first decision of a large company to invest heavily in Bitcoin.
Four years later, MicroStrategy now has a total of 226,500 Bitcoins, worth approximately $14.6 billion. The company made these purchases for $8.3 billion and the unrealized profit stood at nearly $6.3 billion, an increase of 75% of the initial amount.
However, MicroStrategy is not relenting even with these tremendous achievements made in the market. In its second-quarter earnings call, the company said it is registering for a new $2bn at-the-market equity offering. This amount is approximately equivalent to 15% of their current investment and seems to be for buying more Bitcoin. At the current market price of $65,000 per Bitcoin, this would enable MicroStrategy to purchase approximately 30,750 more Bitcoins.
This continued investment suggests that MicroStrategy has a lot of confidence in Bitcoin. In turn, the long-term growth of the cryptocurrency market enables the company to gradually increase its holdings.
MicroStrategy’s Continued Bitcoin Buys Highlight Belief in Crypto Growth
The fact that MicroStrategy continues to accumulate BTC regardless of market volatility speaks volumes about its potential. Their actions are watched due to their position as one of the largest investors in Bitcoin. Whether this is going to work in the future is yet to be seen. However, what MicroStrategy has done is an unprecedented act in the world of crypto.
Lastly, the strategy of MicroStrategy of major investments in Bitcoins indicates a belief in the future of cryptocurrencies. Their active purchase, including intentions to acquire up to $2 billion, as mentioned by CryptoQuant, of Bitcoin, ensures their confidence in its future growth and stability.
