MicroStrategy Acquires Another 15,400 BTC For $1.5 Billion
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Software company MicroStrategy announced another Bitcoin purchase, making it the fourth consecutive week that it has purchased the flagship crypto. Thanks to this development, the company now holds 402,100 BTC, which accounts for over 1.2% of BTC’s total supply. MicroStrategy Acquires 15,400 BTC The company announced in a press release that it had acquired 15,400 BTC for $1.5 billion at an average price of $95,976 per bitcoin and has achieved a BTC yield of 38 .7% quarter-to-date (QTD) and 63.3% year-to-date (YTD). Following this recent purchase, MicroStrategy now holds 402,100 BTC, which it acquired for $23.4 billion at an average price of $58,263. The company’s co-founder, Michael Saylor, also confirmed this development in an X post. MicroStrategy’s latest Bitcoin purchase marks its fourth in as many weeks. Interestingly, before the company began these recent purchases, it announced plans to raise $42 billion over the next three years to buy more BTC. Since then, it has purchased over 13.5 billion worth of Bitcoin. Last week’s purchase is the largest of them all, as the company bought 55,500 BTC for $5.4 billion. Meanwhile, this development comes as Marathon Digital, the public company with the second-largest Bitcoin holding, also announced that they plan to raise $700 million, with some of the proceeds allocated for more Bitcoin purchases. The Bitcoin miner is still well behind Michael Saylor’s company, as it holds around 33,875 BTC compared to the 402,100 BTC that Saylor’s company holds. These BTC purchases undoubtedly provide a bullish outlook for the Bitcoin price, which is currently consolidating, having peaked at around $99,000, which looks to be a local top for the flagship crypto. Bitcoin attempted to hit the $100,000 milestone about two weeks ago but failed and has since halted its most recent rally, which began when Donald Trump won the elections. MSTR…
Filed under: News - @ December 2, 2024 6:18 pm