Microstrategy Buys Again 9,245 Bitcoins Worth IDR 9.7 Trillion

Liputan6.com, Jakarta MicroStrategy Inc made another multimillion-dollar Bitcoin purchase in less than a week, increasing the company's holdings to more than 1% of the world's cryptocurrency supply.

Reporting from Yahoo FinanceWednesday (20/3/2024), the software manufacturing company again bought 9,245 Bitcoins for USD 623 million or the equivalent of IDR 9.7 trillion (assuming an exchange rate of IDR 15,720 per US dollar) between March 11 and March 18, according to a Securities Commission filing and the US Stock Exchange (SEC) on Tuesday.

This purchase, along with the acquisition of Bitcoin worth USD 821.7 million or the equivalent of Rp. 12.9 million announced last week, were both largely financed through the sale of bonds.

First Buy Bitcoin

MicroStrategy chairman and co-founder Michael Saylor began buying Bitcoin in 2020 as an inflation hedge and alternative to holding cash.

The company holds 214,246 tokens worth around USD 14 billion or the equivalent of IDR 220 trillion. The maximum total number of Bitcoins is 21 million, with around 19.7 million tokens having been issued so far. It is estimated that this milestone will be reached in 2140.