30s Summary

MicroStrategy, a Bitcoin development company, has purchased an additional 51,780 Bitcoin ($4.6 billion). This means the company now owns 331,200 tokens, total worth nearly $30 billion. The latest acquisition was funded through selling approximately 13.6 million MicroStrategy shares, with $15.3 billion worth still remaining in their current program. The firm’s executive chairman, Michael Saylor, hinted about this purchase recently. This comes a week after the company bought 27,200 tokens, with the total acquisition over the past weeks standing at around 72,000 tokens or $6.6 billion.

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MicroStrategy, the company that calls itself a Bitcoin Development Company, just added to its stash of bitcoin. Over the last six days, the company bought another 51,780 tokens. That’s $4.6 billion worth of bitcoin.

This brings MicroStrategy’s total bitcoin holdings to 331,200 tokens. They’ve spent roughly $16.5 billion on acquiring these so far. At the current market value, that’s nearly $30 billion worth of Bitcoin. Makes you wish you bought in early, huh?

How did MicroStrategy fund this latest bitcoin binge? They sold about 13.6 million shares of their own stock, making $4.6 billion. The company still has around $15.3 billion worth of stock left to sell under their current program, according to a recent regulatory statement.

Last weekend, MicroStrategy’s Executive Chairman, Michael Saylor, dropped hints on X about this bitcoin buy.

This isn’t the first time MicroStrategy has splurged on bitcoin. Just last week, they announced they bought another 27,200 tokens. That’s $2 billion worth! Over the last few weeks, MicroStrategy’s total bitcoin buys equal about 72,000 tokens, or $6.6 billion.

The company’s shares dipped a little in premarket trading as a result of the news, but overall, their share price is still up almost 400% so far this year. So it seems their bitcoin strategy is paying off for them, at least for now!