MicroStrategy’s Bitcoin Bet Grows — But Leverage Risks Loom Large

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MicroStrategy has once again increased its investment in Bitcoin. Yet again, the company, led by very public Bitcoin proponent Michael Saylor, has bought more Bitcoin. In total, 3,459 more. And while the total monetary value of this latest acquisition is $285.8 million, it nonetheless brings the total Bitcoin holdings of MicroStrategy to a really ridiculous-sounding number of 531,644 BTC. Yes, that’s right. Almost half a million Bitcoin. Following Saylor’s strategy of acquiring Bitcoin, MicroStrategy has gained a cult-like following among those who believe in Bitcoin and among institutional crypto bulls. The company’s stock, $MSTR, not infrequently trades as a high-beta

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