Originally published on: November 25, 2024
MicroStrategy, a leading business intelligence and software company, made waves with its announcement of a significant expansion of its Bitcoin holdings in a recent filing. Between November 18 and 24, the company acquired around 55,000 Bitcoin (BTC) for a whopping $5.4 billion. This purchase, funded by recent equity and debt offerings, marked a strategic move by MicroStrategy to invest in the future of cryptocurrency.
With this latest acquisition, MicroStrategy now holds a total of 386,700 BTC, amounting to $21.9 billion, with an average price of $56,761 per coin. Their continued buying spree near BTC’s all-time high nearing $100,000 indicates a strong belief in Bitcoin’s potential growth, driven by increasing institutional adoption and positive sentiments regarding potential pro-crypto legislation.
MicroStrategy used funds from a private offering of 0% convertible senior notes due 2029 and its ongoing at-the-market (ATM) equity program to finance this purchase. This strategic move showcases the company’s commitment to leveraging Bitcoin as a key part of its financial strategy.
In addition, Semler Scientific, a US healthcare company, also made a significant Bitcoin acquisition of 297 BTC for $29.1 million, expanding its total holdings to 1,570 BTC. The firm doubled its ATM equity program to $100 million, emphasizing its focus on using Bitcoin as a treasury asset.
These bold moves by MicroStrategy and Semler Scientific reflect a growing trend among companies to invest in cryptocurrency as a valuable asset. With Bitcoin’s value on the rise and increasing institutional interest, these companies are paving the way for a future where digital assets play a pivotal role in the financial landscape.