Key Takeaways
- MicroStrategy continued its aggressive Bitcoin acquisition strategy, purchasing an additional $5.4B worth, raising its total reserves to $32B.
- The company's stock (MSTR) surged 515% year-to-date, closely tracking Bitcoin's price movements and reflecting strong market growth.
- MicroStrategy plans to raise $42B for further Bitcoin investments through a strategic plan, positioning itself as a leading Bitcoin institutional holder.
MicroStrategy's Bitcoin Acquisition Strategy
MicroStrategy has made another significant Bitcoin purchase, acquiring $5.4B worth of Bitcoin to further strengthen its reserves.
This latest acquisition brings MicroStrategy’s total Bitcoin reserves to around $32B, making it the largest institutional holder of Bitcoin.
MicroStrategy has been aggressively accumulating Bitcoin throughout November, marking its third significant purchase this month alone.
MicroStrategy Stock Surges Alongside Bitcoin's Rise
MicroStrategy’s stock (MSTR) has surged 515% year-to-date, driven by its Bitcoin acquisitions and the market’s growth.
There is a notable correlation between the performance of MSTR stock and Bitcoin’s price movements, with the stock up nearly 80% in November alone.
Bitcoin’s 150% rise in 2023 has played a significant role in MicroStrategy’s stock rally, reflecting a close connection between the two assets.
Plans for Future Bitcoin Investments
MicroStrategy plans to raise $42B to expand its Bitcoin holdings over the next few years through the '21/21 Plan'.
This plan involves securing $21B from both equity and fixed-income securities to further boost its Bitcoin reserves.
As of now, the value of MicroStrategy’s reserves have surpassed the combined liquid assets of major companies like IBM, Nike, and Johnson & Johnson.
BlackRock, the largest Bitcoin ETF issuer in the US, has increased its stake in MicroStrategy to 5.2%.
