Microstrategy Doubles Down on Its Bitcoin-Heavy Portfolio, Buys Another $209M in BTC

Microstrategy continues to double down on its bitcoin-heavy portfolio, recently adding another major batch of BTC to its holdings.

Tech firm Microstrategy has added another batch of bitcoin to its already-bulging crypto portfolio, with the latest purchase amounting to 2,138 BTC.

According to the company’s recent filing with the Securities and Exchange Commission (SEC), the average cost of each token in this latest batch was $97,837, bringing the total cost of the acquisition to $209,100,004.

This development comes hot on the heels of Microstrategy’s previous bitcoin purchase, which saw the company add 5,262 BTC to its holdings at the all-time highest price. With the addition of the latest 2,138 BTC purchase, Microstrategy now holds 446,400 BTC at a cost of $27.9 billion, with an average price-per-bitcoin of $62,428.

Despite the recent market downturn, which has seen bitcoin’s price drop significantly from its all-time high, Microstrategy remains undeterred in its bullish approach to acquiring the flagship cryptocurrency.

The company, led by CEO Michael Saylor, is now the largest corporate holder of bitcoin in the world, with a massive lead over other publicly traded firms.

In fact, Microstrategy owns more BTC than the top 10 of that ranking combined, including companies like Marathon Digital Holdings, Tesla, and Galaxy Digital Holdings.

As part of its strategy, Microstrategy has also announced its intention of raising $42 billion to expand its bitcoin holdings further.

The strategy, dubbed the “21/21 plan,” has a set deadline of three years and revolves around raising $21 billion via fixed-income securities and the other half through equity sales.

Given its aggressive market movements in recent times and this ambitious plan to solidify Microstrategy as one of the largest entities holding bitcoin in the world, we can expect to see even more purchases by the firm in the upcoming years.