MicroStrategy's $2.1B Bitcoin Bet Raises Eyebrows Amid Volatility
TL;DR Summary
MicroStrategy has purchased an additional 21,550 bitcoins for $2.1 billion, bringing its total holdings to 423,650 BTC, valued at approximately $41.5 billion. This acquisition was funded through a $2.13 billion share sale, part of the company's strategy to buy bitcoin by issuing shares and convertible notes. Despite this purchase, MicroStrategy's stock fell by 4% as bitcoin prices dipped below $98,000. Other companies, like Riot Platforms, are also increasing their bitcoin investments.
- MicroStrategy Buys Another $2.1 Billion Worth of Bitcoin Investopedia
- The Cryptocurrency You May Not Even Know You Own The New York Times
- MicroStrategy Makes Another Large Bitcoin Purchase, Buying 21,550 BTC for $2.1B Yahoo Finance
- MicroStrategy's Michael Saylor Risks Breaking Down The 'Magic Money Creation Machine' With His Growing Bitcoin Bet, Says Expert - Grayscale Bitcoin Mini Trust (BTC) Common units of fractional undivided beneficial interest (ARCA:BTC) Benzinga
- MicroStrategy Has Volatility to Sell Bloomberg
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