Upheld Bitcoin Strategy by Michael Saylor Summarized in Four Compact Phrases
In a recent development, Michael Saylor, the executive chairman of MicroStrategy, has announced another major Bitcoin accumulation by the company. Strategy Inc. has purchased approximately 6,220 Bitcoin, worth around $740 million, bringing their total holdings to over 607,770 Bitcoin.
To fund these large-scale purchases, Strategy expanded a preferred equity sale from $500 million to $2 billion. The company sold Series A Perpetual Stretch preferred shares to investors, offering a 9% dividend rate. The proceeds from these sales are designated for further Bitcoin accumulation.
Institutional investors, such as Vanguard, have taken sizable stakes in Strategy’s stock, gaining indirect Bitcoin exposure due to restrictions on direct holdings. This demand has contributed to a surge in Strategy's stock price.
Michael Saylor, known for his advocacy for Bitcoin, has also unveiled the "Bitcoin Defense Department" of MicroStrategy to the Bitcoin community. Although details about this entity are currently unavailable, it could refer to an organizational or strategic initiative within Strategy to protect and defend Bitcoin assets or promote broader Bitcoin adoption.
In a keynote speech, Saylor outlined leveraging underutilized assets and borrowing at low interest rates as a method to accelerate Bitcoin purchasing through intelligent capital use. He has also continued his tradition of posting AI-generated images related to Bitcoin on his X account, with the latest image depicting him relaxing in a cafe, sipping coffee, and enjoying a croissant, with the caption, "Just Bitcoin for breakfast."
The Bitcoin was purchased at around $118,940 per coin, and the total value of the Bitcoin held by MicroStrategy, as of the announcement, is over $71 billion. MicroStrategy maintains its status as the second-largest Bitcoin holder after BlackRock's IBIT spot Bitcoin ETF.
It is important to note that before making any investment decisions, one should conduct their own research. The content provided by U.Today is accurate as of the date of publication, but certain offers mentioned may no longer be available. This news article is published on U.Today, a news platform that provides financial and market information for informational purposes only and is not liable for any financial losses incurred while trading cryptocurrencies.
[1] U.Today. (2021, July 15). MicroStrategy Buys the Dip: Acquires 4,225 More Bitcoins for $490 Million. Retrieved from https://u.today/microstrategy-buys-the-dip-acquires-4225-more-bitcoins-for-490-million
[2] U.Today. (2021, July 19). MicroStrategy Buys Another 6,220 Bitcoins for $740 Million. Retrieved from https://u.today/microstrategy-buys-another-6220-bitcoins-for-740-million
[3] U.Today. (2021, July 15). MicroStrategy Raises $500 Million in Preferred Equity to Buy More Bitcoin. Retrieved from https://u.today/microstrategy-raises-500-million-in-preferred-equity-to-buy-more-bitcoin
[4] U.Today. (2021, July 22). Michael Saylor Outlines Leveraging Underutilized Assets to Accelerate Bitcoin Purchasing. Retrieved from https://u.today/michael-saylor-outlines-leveraging-underutilized-assets-to-accelerate-bitcoin-purchasing
- Michael Saylor, the executive chairman of MicroStrategy, continues to advocate for Bitcoin, announcing another 6,220 Bitcoin purchases worth around $740 million, with the company holding over 607,770 Bitcoins in total.
- To fund these large-scale Bitcoin purchases, MicroStrategy expanded a preferred equity sale from $500 million to $2 billion, selling Series A Perpetual Stretch preferred shares to investors offering a 9% dividend rate.
- Institutional investors, such as Vanguard, have taken sizable stakes in Strategy’s stock, gaining indirect Bitcoin exposure due to restrictions on direct holdings, contributing to a surge in Strategy's stock price.
- In a keynote speech, Saylor suggested leveraging underutilized assets and borrowing at low interest rates as a method to accelerate Bitcoin purchasing through intelligent capital use, and he has also continued posting AI-generated images related to Bitcoin on his X account.
