MicroStrategy Buys More Bitcoin, Chairman Saylor Urges Microsoft To Do the Same

MicroStrategy (MSTR) purchased one other $1.5 billion value of bitcoin (BTCUSD) final week, the corporate mentioned Monday.

With this newest buy of 15,400 bitcoins, MicroStrategy now holds 402,100 complete, which is slightly below 2% of the 21 million complete provide that can ever exist.

According to BitcoinTreasuries.web, MicroStrategy is the second-largest holder of bitcoin within the public markets behind BlackRock’s iShares Bitcoin Trust (IBIT), which is a spot bitcoin exchange-traded fund (ETF).

MicroStrategy continued its bitcoin shopping for spree, with this newest stash acquired at a mean buy worth of $95,976 per bitcoin. Company chairman Michael Saylor teased the announcement on X over the weekend.

MicroStrategy shares had been down almost 1% in current buying and selling Monday, although they’ve gained a whopping 500% year-to-date. Bitcoin was buying and selling beneath $96,000 on the identical time, down 1.4%

Saylor Urges Microsoft To Buy Bitcoin

Saylor has espoused the potential advantages of publicly-traded corporations holding bitcoin as a treasury reserve asset since 2020, when MicroStrategy made its first bitcoin buy.

As extra corporations have began to undertake this technique in 2024, some analysts imagine it might prop up the costs for the most important cryptocurrency by market capitalization in instances of volatility.

However, different mega-cap tech corporations—with the expectation of Tesla (TSLA), which bought most of its bitcoin holdings however nonetheless owns roughly a billion {dollars} value—haven’t made energetic bitcoin purchases. Saylor is trying to change that by urging Microsoft (MSFT) to purchase the digital asset.

In a video dated Dec. 1, Saylor mentioned he offered to the Microsoft board why the tech big should purchase bitcoin. He urged the tech big to put money into the cryptocurrency as an alternative of buybacks or distributing dividends to eradicate shareholder threat and enhance enterprise worth.

This presentation follows a proposal from the National Center for Public Policy Research, a suppose tank that engages in shareholder activism in assist of conservative insurance policies, for an evaluation of investing in bitcoin. The Microsoft board beforehand beneficial shareholders vote in opposition to the proposal.