MicroStrategy buys Bitcoin dip, holdings surpass 450K BTC

by

In simple terms, MicroStrategy significantly boosted its Bitcoin holdings by investing a substantial sum of $243 million when prices were lower, thus reaching a new benchmark in their Bitcoin ownership.

microStrategy has amassed more than 450,000 Bitcoins (BTC) in its reserves, purchasing them at a cumulative cost of approximately $28.2 billion, with each Bitcoin acquired priced around $62,691.

The significant achievement was reached following MicroStrategy’s purchase of approximately 2,386 Bitcoins for a total value of $243 million, with an average price per Bitcoin of around $95,972. This information was shared by the company’s founder and chairman, Michael Saylor, in a post dated January 13th on platform X.

During a nearly seven-day price decline, when Bitcoin’s value fell beneath the significant level of $100,000 from January 7 onwards as per CryptoMoon Markets Pro data, MicroStrategy decided to make a purchase.

Cryptocurrency investment funds are likewise taking advantage of price drops, causing Bitcoin holdings in exchanges to nearly reach a record low of seven years on January 13th.

Reducing Bitcoins available on trading platforms could potentially trigger a surge in prices due to a “shortage in supply,” a situation that arises when robust buying interest collides with dwindling Bitcoin quantities, causing further price escalation.

This is a developing story, and further information will be added as it becomes available.

Read More

2025-01-13 17:11