MicroStrategy now owns more than 2% of all the bitcoins that will ever exist. Co-founder and chairman Michael Saylor continues to increase purchases as part of the "buy and hold" strategy he initiated in 2020. MicroStrategy holds approximately $41 billion worth of the original cryptocurrency.
According to a filing with the U.S. Securities and Exchange Commission, MicroStrategy acquired 2,530 Bitcoin tokens at an average price of around $95,972 from January 6 to January 12. In recent weeks, the pace of purchases has slowed down.
The so-called Bitcoin treasury plans to raise $42 billion in capital by 2027, utilizing stock sales in the market and issuing convertible debt to acquire additional bitcoins. MicroStrategy has already surpassed two-thirds of its capital-raising goals in less than three months after announcing its plans. According to the current plan, it could purchase an additional $6.5 billion worth of bitcoins using the funds raised from stock sales.