Editing MicroStrategy (section)

==Bitcoin purchases==
In August 2020, MicroStrategy invested $250 million in [[bitcoin]] as a treasury reserve asset, citing declining returns from cash, a weakening dollar, and other global [[macroeconomic]] factors.<ref>{{Cite web |date=2020-08-11 |title=MicroStrategy buys $250M in Bitcoin as CEO says it's superior to cash |url=https://www.bizjournals.com/washington/news/2020/08/11/microstratregy-buys-250m-in-bitcoin.html |access-date=2020-08-11 |website=Washington Business Journal |language=en}}</ref><ref>{{Cite web |title=MicroStrategy Buys $50 Million Worth Of Bitcoin, Topping Up Holdings To $766M |date=5 December 2020|url=https://www.benzinga.com/markets/cryptocurrency/20/12/18663624/microstrategy-buys-50-million-worth-of-bitcoin-topping-up-holdings-to-766m}}</ref> The company went on to make several additional large purchases of bitcoin; as of September 19, 2022, MicroStrategy and its subsidiaries held approximately 130,000 BTC, acquired at an aggregate purchase price of $3.98 billion at an average purchase price of $30,639 per bitcoin. Saylor is the main driver behind this strategy.

On the company's quarterly earnings call on May 3, 2022, MicroStrategy CFO Phong Le stated that the company would face a [[margin call]] if bitcoin's price fell to about $21,000. A margin call would obligate the company to sell some of its bitcoin holdings. Le stated that the company could add more collateral to its loan to avoid such a situation.<ref>{{Cite web |last=Fox |first=Matthew |title=Microstrategy said it would face a margin call and be forced to sell some of its crypto if bitcoin falls to $21,000 |url=https://markets.businessinsider.com/news/stocks/microstrategy-bitcoin-margin-call-21000-crypto-loan-mstr-stock-price-2022-5 |access-date=2022-05-06 |website=Markets Insider}}</ref> After bitcoin's price fell to about $20,800 in June 2022, the company said that it had not received a margin call and that it had enough capital to withstand further [[volatility (finance)|volatility]].<ref>{{Cite news |last=Westbrook |first=Tom |date=2022-06-15 |title=MicroStrategy scotches 'margin call' fears, says can withstand volatility|work=[[Reuters]] |url=https://www.reuters.com/technology/bitcoin-nears-microstrategy-margin-call-price-2022-06-14/ |access-date=2022-06-15}}</ref> On December 22, 2022, MicroStrategy sold 704 BTC, which represented their first time selling any bitcoin, for an amount of around $11.8 million.<ref>[https://www.microstrategy.com/content/dam/website-assets/collateral/financial-documents/financial-document-archive/form-8-k-12-28-2022.pdf MicroStrategy Incorporated] MicroStrategy</ref>

On September 25, 2023, MicroStrategy announced that, during the period between August 1, 2023, and September 24, 2023, MicroStrategy and its subsidiaries acquired approximately 5,445 bitcoins for approximately $147.3 million in cash, at an average price of approximately $27,053 per bitcoin, inclusive of fees and expenses.

As of December 8, 2024, MicroStrategy was reported to own 423,650 bitcoins, worth $42.43 billion, and is the largest corporate holder of the asset. MicroStrategy purchased 149,880 bitcoins in the month beginning on November 11, 2024.<ref>{{Cite web |last=Macheel |first=Tanaya |date=2024-12-14 |title=Bitcoin proxy MicroStrategy to join the Nasdaq 100 and heavily traded 'QQQ' ETF |url=https://www.cnbc.com/2024/12/13/bitcoin-proxy-microstrategy-to-join-the-nasdaq-100-and-heavily-traded-qqq-etf.html |access-date=2024-12-15 |website=CNBC |language=en}}</ref> On the strength of this asset, MicroStrategy was included in the [[Nasdaq-100]] effective December 23, 2024.<ref>{{cite web | url=https://www.reuters.com/technology/microstrategy-secures-nasdaq-100-inclusion-after-bitcoin-fueled-stock-surge-2024-12-14/ | title=MicroStrategy secures Nasdaq-100 inclusion after bitcoin-fueled stock surge | work=Reuters | date=14 December 2024 }}</ref>