MicroStrategy Buys 21,550 Bitcoins for $2.1 Billion
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MicroStrategy has made a significant move in the cryptocurrency market, acquiring 21,550 Bitcoins (BTC) for a total of $2.1 billion in cash from December 2 to 8.
The company’s founder, Michael Saylor, confirmed the purchase and shared details, stating that the average cost per Bitcoin was approximately $98,783.
This latest acquisition has led to impressive returns, with a 43.2% gain for the quarter and a 68.7% increase year-to-date.
As of December 8, 2024, MicroStrategy’s total Bitcoin holdings have reached 423,650 BTC, with an average purchase price of $60,324, amounting to a total value of around $25.6 billion.
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