The post MicroStrategy Buys 15,400 BTC, Boosting Holdings To 402,100 Bitcoin appeared on BitcoinEthereumNews.com.

MicroStrategy (NASDAQ: MicroStrategy (MSTR), the largest corporate holder of Bitcoin, has increased its holding by making another Bitcoin purchase of 15,400 BTC worth $1.5 Billion. The purchase was made at an average price of $95,976 per Bitcoin totaling MicroStrategy holdings to 402,100 BTC. Source| X This latest purchase further bolsters MicroStrategy’s aggressive Bitcoin investment approach thus making it one of the largest institutional investors in the cryptocurrency market. Funding Raised Through Share Sales MicroStrategy’s latest purchase of Bitcoin was made through a share sale agreement. From November 25 to December 1, 2024, the company offered shares of stock and generated $1.48 Billion. The sale is part of the plan to sell Microstrategy’s shares up to $21 Billion. – Advertisement – The company’s Bitcoin investments have risen significantly, owing to the long-term Bitcoin price uptrend and the company’s confidence in Bitcoin as a store of value. MicroStrategy has adopted an aggressive policy of buying Bitcoin, which has positively impacted its stock prices. In the last month, the stock price rose by nearly 50%, with a 150% increase over six months and a staggering 500% rise year-to-date. With large Bitcoin holdings, MicroStrategy will gain more as Bitcoin continues to surge and nears the key resistance level of $100,000. BTC has been trying to break the $100K for the past few weeks. – Advertisement – The company’s share price surge has also drawn attention from investors looking for exposure to Bitcoin without directly buying the cryptocurrency. MicroStrategy’s success is viewed by many as a validation of its strategy to acquire Bitcoin as a corporate asset. Given the strong correlation between the company’s stock price and the value of its Bitcoin holdings, MicroStrategy’s performance highlights the growing integration of cryptocurrencies into traditional financial markets. A Precedent to Bitcoin Adoption by Companies MicroStrategy is paving…

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Filed under: News - @ December 3, 2024 10:26 pm