MicroStrategy, the leading corporate holder of Bitcoin, has acquired an additional 11,931 BTC for $786 million. This brings the company’s total Bitcoin holdings to 226,331, valued at nearly $15 billion with Bitcoin priced at approximately $66,000 each. The average purchase price for MicroStrategy’s Bitcoin is $36,798 per coin, totaling around $8.33 billion in investments.
This recent acquisition follows an $800 million convertible note offering to institutional investors, which was initially planned for $500 million, then increased to $700 million before closing at $800 million. Earlier in March, MicroStrategy added 9,245 BTC for $623 million through a similar debt issuance.
Under the leadership of Executive Chairman Michael Saylor, MicroStrategy began accumulating Bitcoin in 2020. Saylor has been advocating for other companies to adopt Bitcoin as a reserve asset. A notable follower of this strategy is Semler Scientific, which has recently acquired significant amounts of Bitcoin and is also leveraging capital markets for further purchases, despite having a smaller market cap.
But who is Micheal Saylor?
Michael Saylor is the chairman and co-founder of MicroStrategy, a leading American company providing business intelligence, mobile software, and cloud-based services. Born on February 4, 1965, in Lincoln, Nebraska, Saylor spent his childhood on various U.S. Air Force bases due to his father’s military career. In 1983, he attended the Massachusetts Institute of Technology (MIT) on an Air Force ROTC scholarship, where he studied aeronautics, astronautics, and science, technology, and society.
In 1989, Saylor co-founded MicroStrategy with Sanju Bansal. Under his leadership, the company became a leader in data analytics and business intelligence. MicroStrategy went public in 1998, solidifying its position in the tech industry. Saylor served as CEO until 2022, when he transitioned to the role of executive chairman to focus on Bitcoin acquisition and advocacy.
Since 2020, Saylor has been a prominent advocate for Bitcoin. Under his leadership, MicroStrategy has made significant investments in Bitcoin, becoming the largest corporate holder of the cryptocurrency.