MicroStrategy's Bitcoin Holdings Surpass 499,000

MicroStrategy, Inc. (MSTR), a leading business intelligence company, has further expanded its Bitcoin (BTC) holdings with a recent purchase, bringing its total stack to just shy of half a million. The company, under the leadership of Executive Chairman Michael Saylor, announced on Monday morning the acquisition of 20,356 BTC for approximately $1.99 billion, or an average price of $97,514 per token.

This latest purchase follows a $2 billion 0% convertible note offering last week, which raised $1.99 billion after expenses. As a result, MicroStrategy's Bitcoin stack now stands at 499,096 tokens, acquired for a total of $33.1 billion, with an average price of $66,357 per token. At Bitcoin's current price of $95,500, the holdings are valued at approximately $47.7 billion.

Following the announcement, MSTR shares have shown marginal gains in premarket trading, recovering from a Friday decline that saw the stock price dip below $300.

MicroStrategy's aggressive Bitcoin accumulation strategy has been a significant factor in the company's recent financial performance. The company's commitment to Bitcoin as a reserve asset has been widely discussed in the financial community, with some analysts praising the strategy while others express caution. As Bitcoin's price continues to fluctuate, MicroStrategy's Bitcoin holdings will likely remain a focal point for investors and industry observers alike.