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MicroStrategy's Bitcoin Bet Propels Market Value Beyond $100 Billion

1 min read
Source: The Motley Fool
MicroStrategy's Bitcoin Bet Propels Market Value Beyond $100 Billion
Photo: The Motley Fool
TL;DR

MicroStrategy, led by billionaire Michael Saylor, has significantly increased its Bitcoin holdings, now owning 279,420 Bitcoins valued at $24.5 billion. Despite Bitcoin's price surge, Saylor remains bullish, predicting it could reach $100,000 by 2024 and $13 million in 21 years. MicroStrategy's pivot to Bitcoin has overshadowed its struggling software business, leading to increased debt and share issuance to fund further Bitcoin purchases. This strategy is risky, hinging on Bitcoin's future performance against the U.S. dollar.

Topics:businessfinance#bitcoin#cryptocurrency-investment#enterprise-software#finance#michael-saylor#microstrategy
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  1. Billionaire Michael Saylor's Company Just Bought This Popular Cryptocurrency  The Motley Fool
  2. Watch These MicroStrategy Levels as Stock Soars to Record High After Bitcoin Purchase  Investopedia
  3. MicroStrategy Could Be A Multi-Trillion Dollar Company (MSTR)  Seeking Alpha
  4. MicroStrategy Announces Proposed Private Offering of $1.75 Billion of Convertible Senior Notes  Business Wire
  5. MicroStrategy Market Value Tops $100 Billion as Bitcoin Hits New High  Barron's

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