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