Company acquires over 20,000 Bitcoins as part of its strategic plan, increasing its holdings significantly. Despite potential risks, Wall Street analysts are positive.
Bitcoin Treasury Strategy (formerly MicroStrategy) reportedly purchased 20,356 more Bitcoins between February 18-23, valued at approximately $1.9 billion with an average price of $97,514. The company now holds 499,096 Bitcoins worth over $47 billion, which is more than 2.3% of the total 21 million Bitcoin supply. Michael Saylor, the founder and CEO, revealed that the average purchase price of the company’s Bitcoin assets was $66,357. This purchase was made after completing a $2 billion convertible bond offering. The company’s annual report warned of profitability risks in case of significant market value decline of its Bitcoin assets. Despite concerns from some investors, Wall Street analysts remain optimistic about this company.
