2024

Bitcoin

<p style="text-align: justify">You can also read this news on BH NEWS: <a href="https://en.bitcoinhaber.net/michael-saylors-firm-buys-more-bitcoin" data-wpel-link="internal">Michael Saylor’s Firm Buys More Bitcoin</a><br></p>
<p style="text-align: justify">Despite a recent decline in <a href="https://en.bitcoinhaber.net/analysts-forecast-bitcoins-surge" data-wpel-link="internal">Bitcoin</a> prices, Michael Saylor’s company has continued its cryptocurrency acquisition strategy. The firm made several purchases in July, increasing its Bitcoin holdings even further. According to a <a href="https://newslinker.co" target="_blank" rel="noopener nofollow" data-wpel-link="exclude">recent announcement</a>, the company added to its Bitcoin reserves before the end of July, albeit in smaller amounts than previous purchases. What is the total amount of Bitcoin held by the company?</p> 
<h2 id="bitcoin-accumulation-continues">Bitcoin Accumulation Continues</h2> 
<p style="text-align: justify">During the second quarter, the firm acquired 12,222 BTC at a total expenditure of $805.2 million. The average purchase price was $65,882 per Bitcoin, which means the newly acquired BTC is currently at a loss. As of July 31, 2024, the company’s total Bitcoin holdings reached 226,500, valued at approximately $8.3 billion.</p> 
<h2 id="what-is-the-financial-impact">What is the Financial Impact?</h2> 
<p style="text-align: justify">MicroStrategy’s average cost for all its Bitcoin holdings stands at $36,821 per BTC. This figure indicates a significant profit at current <a href="https://finance.coin-turk.com/" rel="nofollow noopener" target="_blank" data-wpel-link="exclude">market</a> prices. In the latest report, MicroStrategy President and CEO Phong Le expressed confidence in their Bitcoin strategy, noting that their Bitcoin holdings now reflect a market value 70% higher than their cost basis. Additionally, the bipartisan support seen at the Bitcoin 2024 Conference in Nashville has further bolstered their optimism.</p> 
<h2 id="key-insights">Key Insights</h2> 
<ul> 
 <li>The company remains committed to accumulating Bitcoin despite price volatility.</li> 
 <li>As of July 31, 2024, the firm’s Bitcoin holdings total 226,500 BTC, valued at $8.3 billion.</li> 
 <li>The average acquisition cost of $36,821 per BTC suggests a strong profit margin.</li> 
 <li>Bipartisan support at recent conferences boosts the company’s confidence in Bitcoin adoption.</li> 
</ul> 
<p style="text-align: justify">In conclusion, Michael Saylor’s company continues to show unwavering confidence in Bitcoin’s long-term value, despite short-term price fluctuations. With significant holdings and a profitable cost basis, the firm’s strategy appears robust and well-positioned for future gains.</p> 
<h5><span style="font-weight:bold;font-size:16px">The post first appeared on BH NEWS: </span> <a href="https://en.bitcoinhaber.net/michael-saylors-firm-buys-more-bitcoin" data-wpel-link="internal">Michael Saylor’s Firm Buys More Bitcoin</a></h5>

Michael Saylor’s Firm Buys More Bitcoin

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