The post MicroStrategy’s First Bitcoin Buy Since Rebrand: 7,633 BTC for $742M appeared on BitcoinEthereumNews.com.

Strategy, formerly MicroStrategy, added 7,633 Bitcoin at an average price of $97,255, pushing holdings to 478,740 BTC and reinforcing a bold long-term bet. The stock rebounded over 2% after the acquisition as investors showed renewed confidence, while the company aims for a 15% Bitcoin yield in 2025. MicroStrategy, now operating under the name Strategy, once again added 7,633 BTC to its holdings, spending a hefty $742 million at an average price of $97,255 per Bitcoin. The strategic move pushes its total Bitcoin stash to 478,740 BTC, making it the largest corporate holder of the digital asset. This is the first purchase since the company’s rebrand, a shift that signaled a deeper commitment to its Bitcoin strategy. The transition included a new logo featuring the Bitcoin symbol, reinforcing its position as a Bitcoin Treasury company. Despite past market fluctuations, Strategy remains constant in its long-term bet on Bitcoin. The latest acquisition is part of a broader financial strategy. The company has spent $31.1 billion on its Bitcoin holdings at an average price of $65,033 per BTC. While Bitcoin’s volatile nature has raised concerns among some investors, Strategy’s leadership remains focused on accumulating more of the asset. MSTR Stock Surges Post-Announcement Following the announcement, MSTR stock rebounded, gaining over 2% and trading around $334. The stock has seen a 10.12% year-to-date (YTD) increase, bouncing back from the dips it faced toward the end of 2024. Strategy’s aggressive Bitcoin accumulation impacts its stock performance directly, solidifying its status as a Bitcoin proxy in the traditional financial market. Source: TradingView Not just Bitcoin but the broader crypto market has responded positively. Bitcoin itself reclaimed the $98,000 support level, recovering from a drop to $95,000 last week. Meanwhile, other Bitcoin whales have been making significant moves. Blockchain tracking data shows that 2,500 BTC were transferred…

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Filed under: News - @ February 11, 2025 7:22 am