MicroStrategy decided to stop its continuous twelve-week Bitcoin buying cycle while keeping its $44 billion worth of Bitcoins stored.
MicroStrategy announced in its Form 8-K filing to the U.S. Securities and Exchange Commission its decision not to acquire Bitcoin for the initial time since its three-month buying period.
Last week, MicroStrategy did not sell any shares of class A common stock under its at-the-market equity offering program, and did not purchase any bitcoin. As of 2/2/2025, we hodl 471,107 $BTC acquired for ~$30.4 billion at ~$64,511 per bitcoin. $MSTR https://t.co/QTBWl8KlNv
— Michael Saylor⚡️ (@saylor) February 3, 2025
The duration from January 27 to February 2 proved that the company did not engage in any class A common share trades using its at-the-market (ATM) offering platform. MicroStrategy holds $4.35 billion worth of available equity through their offerings which can support their Bitcoin investing plans.
MicroStrategy Halts Bitcoin Buying
Chairman Michael Saylor developed the 21/21 plan as MicroStrategy’s Bitcoin investment strategy to utilize $42 billion worth of company funds in Bitcoin purchases. The company launched STRK as its initial preferred stock offering which functions as its new capital-raising solution.
Investors poured $563.4 million into the new offering shortly after its week-long debut which strongly supports the company’s Bitcoin-oriented approach.
According to MicroStrategy’s records from February 3, its bitcoin holdings reached 471,107 BTC, which is equivalent to $44 billion. Bitcoin’s value declined to $96,000 during a universal market dip, which resulted from extensive business closures known as mass liquidations.
The company used $20 billion across its 12-week Bitcoin acquisition period to make total purchases that reached up to $1.1 billion at each transaction level. The extensive Bitcoin purchases made by MicroStrategy have inspired other companies such as Marathon Digital and Riot Platforms to increase their Bitcoin holdings while engaging in mining operations.
The large Bitcoin holdings secured by MicroStrategy along with its established funding channels lead institutions and retail investors to closely observe its imminent future Bitcoin purchasing plans.
This news is republished from another source. You can check the original article here
