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With this latest purchase, CEO Michael Saylor reaffirms the company's commitment to Bitcoin as its primary reserve asset, a strategy he initiated in 2020 to guard against inflation and currency depreciation.
This latest acquisition was funded through sales of company stock, a financing strategy that has allowed MicroStrategy to continue accumulating Bitcoin without depleting its cash reserves. By selling shares, MicroStrategy avoids using debt or impacting its operational cash flow, which allows it to buy Bitcoin without straining its finances.
The company’s shares have seen a steady rise since 2020, attributed largely to the rise in Bitcoin’s value and MicroStrategy’s role as a significant corporate Bitcoin holder.
MicroStrategy’s 21/21 Plan
CEO Michael Saylor and President Phong Le believe the additional capital will serve as a critical asset in reinforcing the company's position in the cryptocurrency space.