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MicroStrategy’s Bitcoin holdings now total 252,220 BTC, reinforcing its leading position in institutional BTC investment. The company’s aggressive BTC strategy shows strong confidence in cryptocurrency as a primary reserve asset. According to the MicroStrategy founder, Michael Saylor, the company has proved its everlasting dedication to Bitcoin by adding 7,420 BTC to its already impressive holdings, totaling $458.2 million at an average price of $61,750 per Bitcoin. This significant acquisition has increased the company’s overall Bitcoin reserves to a staggering 252,220 BTC, with a total investment of around $9.9 billion, resulting in an average cost basis of $39,266 per coin. This action, effective September 19, 2024, strengthens MicroStrategy’s position as one of the largest institutional Bitcoin holdings, cementing its place as a prominent player in the cryptocurrency ecosystem. MicroStrategy has acquired 7,420 BTC for ~$458.2 million at ~$61,750 per #bitcoin and has achieved BTC Yield of 5.1% QTD and 17.8% YTD. As of 9/19/2024, we hodl 252,220 $BTC acquired for ~$9.9 billion at ~$39,266 per bitcoin. $MSTR https://t.co/JUtgztpzBu — Michael Saylor⚡️ (@saylor) September 20, 2024 MicroStrategy’s Strategic Vision: Pioneering Institutional Bitcoin Adoption  This latest purchase reinforces the company’s strategic decision to use Bitcoin as a major reserve asset, which has resulted in significant profits. MicroStrategy’s Bitcoin yield (QTD) is an outstanding 5.1%, with a year-to-date (YTD) yield of 17.8%. These data demonstrate not just the success of MicroStrategy’s investment plan, but also the company’s ability to capitalise on Bitcoin’s upward trend. The company has established itself as a pioneer in institutional Bitcoin adoption by increasing its exposure to the digital asset on a consistent basis. Michael Saylor’s vision for Bitcoin has influenced the company’s strategy. He has frequently discussed Bitcoin’s potential as an inflation hedge and its usefulness as a store of value in an increasingly unstable economic climate. This long-term…

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Filed under: News - @ September 21, 2024 6:05 am