As a seasoned crypto investor with over a decade of experience in this dynamic market, I find MicroStrategy’s recent Bitcoin acquisition strategy intriguing and potentially profitable. Having witnessed the rollercoaster ride that is cryptocurrency, I can attest to its volatility yet immense potential for growth.
As a proud crypto investor, I was thrilled to learn that MicroStrategy, a publicly-traded company specializing in business intelligence and software, disclosed an impressive increase in their Bitcoin holdings, according to a report filed on November 25th.
The business obtained around 55,000 Bitcoins (BTC) for a total of about $5.4 billion during the period from November 18 to 24, with each coin costing an average of approximately $97,862. This acquisition was financed using funds raised from recent shares and loans sales, as stated in the filing.
By purchasing more Bitcoin recently, MicroStrategy now owns a staggering 386,700 BTC in total, which they bought for approximately $21.9 billion, averaging around $56,761 per coin.
The company’s persistent purchase of Bitcoin as its price nears $100,000 indicates their belief in Bitcoin’s future value increase. This confidence is likely fueled by increasing institutional interest in Bitcoin and optimism about possible supportive crypto regulations under the newly elected U.S. presidential administration.
This is a developing story, and further information will be added as it becomes available.
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2024-11-25 16:47