Bitcoin breaks through $72,000! MicroStrategy spends another $820 million to buy 1,200 BTC

MicroStrategy bought another 12,000 Bitcoins for $820 million in the past two weeks, according to documents filed with the U.S. Securities and Exchange Commission. It leads Bitcoin holdings among public companies.

"As of March 10, 2024, MicroStrategy and its subsidiaries held a total of approximately 205,000 Bitcoins. The total purchase price of these Bitcoins was approximately $6.91 billion, with an average purchase price per Bitcoin of Approximately $33,706, including fees and expenses.”

The funding came from MicroStrategy’s issuance of $800 million in senior convertible corporate debt to qualified institutional investors. The original plan was to issue $600 million, but it was later raised to $800 million.

Bitcoin broke through 72,000 US dollars and reached a new high

Just as MicroStrategy released the news, Bitcoin also broke through 19 tonight (11): Around 45, it once again broke through the all-time high and hit $72,200, showing a strong increase.

Founder of MicroStrategy: Never Sell Bitcoin

Although MicroStrategy’s Bitcoin investments have achieved billions of dollars in floating profits, these profits have not prompted MicroStrategy to consider selling. its bitcoin. As a loyal supporter of Bitcoin, Michael Saylor has repeatedly emphasized in previous interviews that MicroStrategy does not intend to sell Bitcoin in the short or long term, and continues to be optimistic about the prospects of Bitcoin. He believes that Bitcoin is a long-term investment and is optimistic about its future value. This stance demonstrates MicroStrategy’s confidence in Bitcoin technology and markets, as well as their recognition of Bitcoin as a digital asset. This decision is also in line with the company's long-term investment strategy, which regards Bitcoin as an important asset. Michael Saylor said that he will always buy top assets and holding Bitcoin is the market exit strategy of MicroStrategy. The current market value of Bitcoin has just exceeded US$1 trillion and is competing with larger asset classes such as gold, real estate, and the S&P Index. However, in his view, Bitcoin is a superior product to all these asset classes: We believe, Capital will continue to flow into Bitcoin from other asset classes because Bitcoin is technically superior to those asset classes, in which case there is no reason to sell the winners and buy the losers.

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