Strategy now owns 555,450 BTC, over $52B in value—around 2.6% of all Bitcoin in circulation.
The company has spent $38.08 billion on Bitcoin, with current holdings valued near $52.2 billion.
Strategy launches $42B capital plan while closing its $21B program after latest BTC purchase.
Strategy, the company previously operating under the name MicroStrategy, announced on Monday that it had acquired an additional 1,895 Bitcoin between April 28 and May 4. The total expenditure in the acquisition was about $180.3 million with each Bitcoin being purchased at the average price of $95,167. The U.S. Securities and Exchange Commission filing reported this transaction as official.
I think this company has a plan to become the most valuable company on earth in the near future just by their investment. Because if you look at their financials, their revenue has never reached to even a billion dollar. Also the revenue is declining year after year. However, they are frantically buying Bitcoins using the cash in hand. Not sure what kind of a strategy is this! They pull money from the stock market and buy Bitcoins without focusing on revenue increase from their actual business activities.
Probably they know something that we don't!