Replicating The MicroStrategy Bitcoin Playbook

On August 11, 2020, MicroStrategy began buying Bitcoin with the cash reserves on their balance sheet. Once all their cash was invested in Bitcoin, they began using debt and equity issuances to buy up more to the tune of billions of dollars.

So far this bet has paid off. MicroStrategy's market cap is 7x higher than it was last year, their Bitcoin holdings are valued at more than 2x their purchase price, and their core software business has even started to grow again, thanks in part to the awareness generated by their Bitcoin bet.

This level of success hasn't gone unnoticed, and other public companies have since followed MicroStrategy's playbook to accumulate more Bitcoin using debt and equity issuances themselves.