Microstrategy now holds nearly $15 billion in bitcoin

This strategy of buying bitcoins has been beneficial for the computer software company. Its stock market price has notably multiplied by more than 12 in 4 years.

Microstrategy continues to fill its accounts with bitcoins and largely consolidates its status as the world’s leading bitcoin holding company. His boss Michael J. Saylor announced Thursday June 20 in a post on X (formerly Twitter) that his company had purchased more bitcoins.

“Microstrategy acquired an additional 11,931 bitcoins for approximately $786 million using proceeds from the convertible notes and excess cash for approximately $65,883 per bitcoin. As of June 20, 2024, $MSTR (Microstrategy Editor’s note) contained 226,331 bitcoins acquired for approximately $8. 33 billion dollars at an average price of 36,798 dollars per bitcoin.”

MicroStrategy now holds 226,331 bitcoins for an amount of nearly $15 billion at the current price (one bitcoin worth $64,300 on Friday June 21 at 10 a.m.).

Action multiplied by more than 12 in 4 years

The company started buying bitcoin in 2019 and has been steadily adding to its portfolio. To continue investing in the queen of cryptocurrencies, Microstrategy has launched 2 bond issues convertible into shares with the aim of buying back more and more bitcoins. This strategy tends to please the market, since the value of MicroStrategy’s stock on the stock market (the company is listed on the Nasdaq) has multiplied by more than 12 in 4 years. Its share price was $1,465 on June 20, 2024, compared to $118 on June 19, 2020.

Financial analysts believe that Microstrategy’s stock price will continue to rise. For example, Bernstein began tracking the stock last week with an outperform rating for Microstrategy and sees a target of $2.90. The stock ended Thursday evening at $1.46.

According to analysts, this increase is not linked to Microstrategy’s main activity, which remains data analysis, but rather because the company is banking on its strategy of creating a real money supply in bitcoins, which remains without equivalent in the global economic landscape.