JUST IN: MicroStrategy Acquires $1.5 Billion in Bitcoin

MicroStrategy has significantly bolstered its position as one of the largest corporate holders of Bitcoin, acquiring an additional 15,400 BTC at an average price of $95,976 per coin.

This recent purchase, amounting to approximately $1.5 billion, demonstrates the company’s unwavering commitment to its Bitcoin investment strategy.

The enterprise software firm now holds a staggering 402,100 BTC, acquired at a cumulative cost of $23.4 billion, averaging $58,263 per Bitcoin. The company’s strategic investment has yielded impressive results, with Bitcoin returns for the quarter-to-date (QTD) reaching 38.7% and year-to-date (YTD) gains standing at 63.3%.

This latest move follows two other major purchases in November – one for $4.6 billion and another for $5.4 billion.

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Michael Saylor, MicroStrategy’s Executive Chairman, has been a vocal advocate for Bitcoin’s potential as a digital asset and hedge against inflation. The company’s bold approach has solidified its reputation as a pioneer among publicly traded firms embracing cryptocurrency as a key component of their treasury strategies.

MicroStrategy’s continuous accumulation of Bitcoin reflects confidence in the long-term prospects of the digital currency, even amidst market fluctuations. This recent move underscores the company’s role in shaping corporate adoption of Bitcoin as a major financial asset.

Kosta Gushterov

Kosta has been working in the crypto industry for over 4 years. He strives to present different perspectives on a given topic and enjoys the sector for its transparency and dynamism. In his work, he focuses on balanced coverage of events and developments in the crypto space, providing information to his readers from a neutral perspective.