Michael Saylor is once again proving his deep conviction in Bitcoin. And this time, he’s doing it with billions of dollars.
What’s happening:
- MicroStrategy (NASDAQ: MSTR) has announced more Bitcoin purchases, fuelled by their recent at-the-market equity financing and convertible debt capital raises
By the numbers:
- MicroStrategy has recently purchased just over $12B USD worth of Bitcoin, staggered through 3 separate purchases at varying prices of Bitcoin
- MicroStrategy now holds 386,700 Bitcoin, which is more than any other publicly traded company in the world
Why it matters:
- Michael Saylor and MicroStrategy previously made waves when they announced they would raise up to $42B USD between equity and debt financings for the sole purposes of acquiring more Bitcoin
Going deeper:
- MicroStrategy isn’t the only public company accumulating Bitcoin, which has become a growing trend for companies listed on stock exchange in the United States of America and Canada
- Bitcoin has also come into focus for governments lately, with Pennsylvania becoming the first state government to formally propose a bill for beginning to use state funds to acquire Bitcoin to hold directly as an asset
