The post MicroStrategy Makes Record $4.6 Billion Bitcoin Purchase, Largest Yet appeared on BitcoinEthereumNews.com.

Business intelligence firm MicroStrategy has ramped up its Bitcoin (BTC) investment following President-elect Donald Trump’s victory in the presidential election. This pivotal moment on November 5 has provided a catalyst for the broader crypto market, further encouraging investment in digital assets. Bitcoin Holdings To Over $29 Billion Led by Bitcoin advocate Michael Saylor, MicroStrategy disclosed on Monday that it has acquired approximately 51,780 Bitcoin for around $4.6 billion. This acquisition marks the largest purchase by the company since it began its Bitcoin buying strategy more than four years ago.  According to a filing with the US Securities and Exchange Commission, the tokens were purchased between November 11 and November 17. With this latest acquisition, MicroStrategy’s total Bitcoin holdings now exceed $29 billion or 331,200 BTC. Saylor’s journey into Bitcoin began in 2020 as a strategy to hedge against inflation. Initially funded through cash reserves, the company has since pivoted to using proceeds from stock issuances and convertible debt sales to enhance its purchasing power in the cryptocurrency market.  Michael Saylor has also reaffirmed his commitment to this strategy. He aims to raise $42 billion over the next three years to further strengthen the company’s BTC portfolio and transform Microstrategy into a leading crypto bank.  BTC Yield Rises To 20.4% Amid Market Optimism Recent data from South Korea-based crypto analytics firm CryptoQuant highlights the impact of MicroStrategy’s latest purchase on its Bitcoin statistics: BTC Holdings: Increased from 279,420 BTC to 331,200 BTC MSTR Realized Price: Rose from $42,692 to $49,874 MSTR Market Value to Realized Value (MVRV): Adjusted from 2.12 to 1.80 Percentage of BTC Owned by MicroStrategy: Increased from 1.412% to 1.674% This latest transaction follows closely on the heels of another significant acquisition on November 11, during which Saylor noted that the company’s treasury operations had yielded an 7.3%…

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Filed under: News - @ November 18, 2024 4:27 pm