The post Michael Saylor’s MicroStrategy buys 1070 more Bitcoins worth $101 million appeared on BitcoinEthereumNews.com.

It’s another Monday, and like clockwork, MicroStrategy has done it again. The company, led by Bitcoin maximalist Michael Saylor, just dropped $101 million on another 1,070 Bitcoins. The average cost was $94,004 per Bitcoin. MicroStrategy’s total stash is now up to 447,470 Bitcoins as of press time. These coins, acquired for a mind-blowing $27.97 billion, have an average cost of $62,503 each. The company has also brought in exponential returns. In Q4 2024, MicroStrategy managed a Bitcoin yield of 48%. For the entire year, it was 74.3%. MicroStrategy back in the market as Bitcoin inches to $100K Bitcoin is on fire, and everyone in the market knows it. Prices are less than $200 away from the $100,000 mark. Analysts say it’s just a matter of time before it shatters that barrier and keeps climbing. Over the past week, Bitcoin has jumped 5.66%, its biggest weekly surge since late November. Donald Trump’s election victory, with his inauguration just days away, has got the bulls excited. Trump is planning many crypto-friendly policies. New legislation could soon hit the scene during his first 100 days. Saylor expects Bitcoin’s price to double to $200,000 during the second quarter of the year. James Butterfill from CoinShares also sees Bitcoin shooting for the stars, predicting a range of $150,000 to $250,000 by the end of 2025. Why? Institutional adoption. As Bitcoin edges closer to gold’s market share, Butterfill thinks the price will skyrocket. Meanwhile, Alex Thorn of Galaxy Digital is predicting that  Bitcoin will hit $185,000 by year’s end. Wei Yang, chief economist at Bit Mining, is a bit more cautious but still equally bullish. He’s pegging Bitcoin’s range at $180,000 to $190,000, though he warns about potential corrections. Sid Powell, CEO of Maple Finance, is aiming even higher. He believes Bitcoin will hit $250,000 by…

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Filed under: News - @ January 6, 2025 4:21 pm