The post MicroStrategy Expands Bitcoin Holdings with $1.5 Billion Acquisition appeared on BitcoinEthereumNews.com.

The firm now has 402,100 BTC, or more than 1.2% of the entire supply of Bitcoin. The company paid $23.4 billion, or $58,263 per coin, for these coins. For the fourth week in a row, software firm MicroStrategy has bought Bitcoin, marking another acquisition. As a result of this change, the firm now has 402,100 BTC, or more than 1.2% of the entire supply of Bitcoin. A press statement was issued by the corporation announcing the acquisition of 15,400 BTC for $1.5 billion, with an average price of $95,976 per bitcoin. The return on bitcoins obtained so far is 38.7% for the quarter and 63.3% for the year. Banking on Bitcoin The latest acquisition brings MicroStrategy’s total Bitcoin holdings to 402,100. The company paid $23.4 billion, or $58,263 per coin, for these coins. Michael Saylor, co-founder of the business, also verified this news in an X post. The most recent Bitcoin acquisition by MicroStrategy is the fourth in as many weeks. Curiously, the firm had previously stated its intention to acquire further Bitcoin by raising $42 billion over the course of three years. It has since bought Bitcoin valued at more than $13.5 billion. The biggest acquisition to date was last week, when the firm paid $5.4 billion for 55,500 BTC. This development coincides with the announcement by Marathon Digital, the publicly traded firm that has the second-largest Bitcoin holding, that it intends to raise $700 million, with a portion of the profits going into more Bitcoin acquisitions. With just around 33,875 BTC in its possession, the Bitcoin miner lags well behind Michael Saylor’s business, which has 402,100 BTC. In all likelihood, these BTC acquisitions bode well for the future of Bitcoin, the flagship cryptocurrency, which is now consolidating after reaching a local high of about $99,000. Highlighted Crypto News…

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Filed under: News - @ December 2, 2024 8:19 pm