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MicroStrategy's Bitcoin Buying Spree Continues Unabated

MicroStrategy remains the largest corporate Bitcoin holder, believing in its long-term value despite challenges in its software business.

1 min 20 secOctober 31, 2024

Highlights:

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Acquired 25,889 Bitcoins in Q3 2024, totaling 252,220.

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Plans to raise $42 billion to expand its Bitcoin portfolio.

MicroStrategy's Bitcoin Buying Spree Continues Unabated

MicroStrategy, a leading business intelligence firm, has maintained a relentless commitment to Bitcoin acquisition since Q3 2020. In its latest earnings call on November 1, 2024, the company announced it had purchased an additional 25,889 Bitcoins in Q3, bringing its total holdings to an impressive 252,220 Bitcoins, valued at approximately $18 billion.

 

Micheal Saylor

 

Under the leadership of co-founder Michael Saylor, MicroStrategy has emerged as the largest corporate holder of Bitcoin. The firm plans to raise $42 billion over the next three years to further enhance its Bitcoin portfolio. This ambitious strategy reflects a deep-seated belief in Bitcoin as a core asset for the company's future.

 

 

Despite facing challenges in its software business, which saw a 10% decline in total revenues due to a shift towards cloud services, MicroStrategy continues to thrive. Subscription services are growing significantly, now contributing 24% of total revenue. The company’s strategic focus on Bitcoin has not only positioned it as a market leader but also allowed it to achieve a notable Bitcoin yield of between 6% and 10% annually.

 

As MicroStrategy forges ahead with its Bitcoin-centric strategy, it remains a key player in the evolving landscape of cryptocurrency investment and corporate finance.

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