Michaela
MicroStrategy has continued to expand its Bitcoin (BTC) holdings for the tenth week in a row, purchasing 2,530 BTC at an average price of $95,972 per BTC.
The company’s co-founder and executive chairman Michael Saylor announced the recent Bitcoin acquisition on X. The business intelligence firm now holds a total of 450,000 BTC.
MicroStrategy has so far accumulated more than 2% of the total supply of Bitcoin, a strategy which Saylor spearheaded. Since launching his buy-and-hold approach in 2020, the chairman has significantly increased the company’s holdings, now valued at approximately $41 billion.
The company is seeking to expand its equity options, with a shareholder vote set for January 21 to determine whether to raise the authorized number of Class A common stock shares from 330 million to 10.3 billion.
Related: Strategy Sells $1.4B in Stock to Cover Bills Amid Bitcoin Slump
Toxic Bonds
In addition to MicroStrategy’s recent Bitcoin acquisition, its prominent co-founder has been making headlines, as well. Speaking at the ICR Conference in Orlando, Florida, Saylor advised companies to consider investing in Bitcoin rather than what he referred to as “toxic bonds,” according to Bloomberg.
Saylor emphasized the contrast in performance between bonds and Bitcoin, referencing MicroStrategy’s ongoing Bitcoin purchases since 2020. He pointed out that, in contrast to Bitcoin’s increase in value, bonds have experienced a significant decline over the same period.
Related: The History of Altcoins: How Bitcoin’s Rivals Changed the Crypto Game
The MicroStrategy chairman further explained that companies looking to the future should consider Bitcoin as a form of “digital capital” instead of relying on traditional treasury bonds. He also criticized Microsoft for not adopting his strategy, despite his efforts to pitch Bitcoin as a treasury asset during a recent shareholder meeting.
In a comprehensive 44-slide presentation, Saylor proposed that Microsoft could boost its market capitalization by nearly $5 trillion by fully integrating Bitcoin into its financial strategy. He advised the tech giant to convert its cash flows, dividends, stock buybacks, and debt into cryptocurrency as a part of its long-term approach. Ultimately, the majority of Microsoft shareholders rejected the proposal.
Read More
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- MicroStrategy to Pause Bitcoin Buying in January?
MICHAELA
Michaela is a news writer focused on cryptocurrency and blockchain topics. She prioritizes rigorous research and accuracy to uncover interesting angles and ensure engaging reporting. A lifelong book lover, she applies her passion for reading to deeply explore the constantly evolving crypto world.
