The saga of MicroStrategy's unwavering commitment to Bitcoin continues. The company, already holding the title of the world's largest corporate Bitcoin owner, has further solidified its position by acquiring an additional 9,245 BTC. This strategic move brings their total Bitcoin holdings to a staggering 214,246 coins, officially pushing them over a significant threshold - owning more than 1% of all Bitcoin that will ever exist.

Michael Saylor, the visionary co-founder and chairman of MicroStrategy, spearheaded this latest Bitcoin purchase. As per his announcement, the company acquired these additional coins at an average price of $67,382, bringing their total Bitcoin book cost to a hefty $7.53 billion. This figure aligns closely with data available on saylortacker.com, a website dedicated to tracking the performance of MicroStrategy's Bitcoin investment journey based on Saylor's publicly disclosed purchases.

Interesting to note, the recent purchase price falls outside two key parameters: MicroStrategy's existing average cost per coin ($35,160) and the prevailing market price of Bitcoin at the time of acquisition ($63,101). Despite exceeding both these figures, MicroStrategy remains firmly in positive territory. Their overall Bitcoin investment boasts a remarkable 80% gain, translating to a cool $6.1 billion in unrealized profits.

However, Michael Saylor exhibits no signs of short-term profit-taking. In a recent CNBC interview, he passionately encouraged investors to view Bitcoin as a form of digital property – a valuable asset with long-term appreciation potential. Likening it to "a billion-dollar building in cyberspace," Saylor advocates for a long-term hold strategy, suggesting investors hold onto their Bitcoin for as long as a century.

Furthermore, Saylor expressed his belief that Bitcoin will progressively encroach upon gold's market share, eventually surpassing it in terms of dominance. He envisions a future where Bitcoin spot ETFs (Exchange-Traded Funds) will grow to rival the size of their gold counterparts. He elaborated on Bitcoin's multifaceted appeal, highlighting its ability to compete with both riskier assets as a long-term investment option and with real estate purchases like Airbnbs as a source of retirement income for average individuals.

This latest Bitcoin acquisition follows closely on the heels of MicroStrategy's successful completion of a $603.75 million convertible note offering, announced just the previous week. These notes, maturing in 2031, offer a relatively low 0.875% coupon. Notably, this wasn't the first instance of MicroStrategy leveraging convertible notes to finance their Bitcoin purchases. Earlier in the month, they utilized $700 million raised through even lower-yielding (0.625% coupon) convertible notes to acquire over $821.7 million worth of BTC.

Bullish investors of MicroStrategy's stock (MSTR) view their access to cheap debt as a significant advantage. They argue that this approach surpasses the merits of directly purchasing Bitcoin or investing in a Bitcoin ETF. Additionally, MicroStrategy's profitable core software business acts as a springboard for future Bitcoin acquisitions, enabling them to steadily increase their Bitcoin holdings per share, ultimately amplifying returns for investors.

While both MSTR and BTC have witnessed impressive year-to-date gains (MSTR up 80%, BTC up 41%), the past five days have painted a slightly different picture. MSTR has experienced a 24% decline in this short period, highlighting the inherent market volatility that both Bitcoin and companies heavily invested in it face. However, Michael Saylor's unwavering belief in Bitcoin's long-term potential suggests that MicroStrategy is prepared to weather these short-term fluctuations in pursuit of a far grander vision.