MicroStrategy Acquires Additional 850 BTC, Total Worth Now $8.1 Billion

MicroStrategy, a publicly-traded Bitcoin company, has successfully purchased an additional 850 BTC in January. The company now holds a total of 190,000 Bitcoin, valued at $8.1 billion.

Bitcoin as an Institutional Asset Class

According to Michael Saylor of MicroStrategy, 2024 will be a critical year for Bitcoin. “2024 marks the birth of Bitcoin as an institutional asset class. It’s the first new asset class of the modern era,” Saylor commented. He further added that the next 15 years will indicate a period of regulated and institutional growth for Bitcoin, which he believes will be drastically different from the past 15 years.

MicroStrategy became the first publicly traded company to start buying Bitcoin as their reserve asset in December 2020. Since that time, the company’s share has grown by more than 300 percent, outperforming tech stocks like Microsoft and Google, which have risen 95 percent in the same timeframe. This indicates that MicroStrategy has been a better investment than most tech giants over this period.

Future of Bitcoin

Saylor is optimistic about the future of Bitcoin. He predicts that the digital currency could potentially increase 100 times from its current price level. Remarkably, Saylor is not concerned about the entry of players like BlackRock and Fidelity into the Bitcoin market. He believes that MicroStrategy can acquire additional Bitcoin in different ways, such as borrowing money based on the company’s value, which is something ETFs cannot do. This approach could carry more risk, but potentially also yield greater profits.