Bitcoin

You can also read this news on COINTURK NEWS: <a href="https://en.coin-turk.com/microstrategy-expands-its-bitcoin-holdings-with-significant-purchase/" data-wpel-link="internal">MicroStrategy Expands Its Bitcoin Holdings with Significant Purchase</a> 
MicroStrategy, a software company led by Bitcoin advocate Michael Saylor, has increased its Bitcoin (BTC) assets once again. The company recently announced that it purchased 18,300 BTC for approximately $1.11 billion. With this latest acquisition, MicroStrategy’s total Bitcoin assets have risen to around $9.45 billion, consisting of 244,800 BTC as of September 2024. 
<h2 style="text-align: justify" id="strong-microstrategy-s-aggressive-bitcoin-accumulation-strategy-continues-strong">MicroStrategy’s Aggressive Bitcoin Accumulation Strategy Continues</h2> 
This latest purchase solidifies MicroStrategy’s position as the largest publicly traded corporate investor in Bitcoin. The company has been pursuing an aggressive accumulation strategy since 2020, driven by a belief that Bitcoin serves as an exceptional store of value compared to traditional fiat currencies. 
Michael Saylor, CEO of MicroStrategy, frequently expresses confidence in Bitcoin’s long-term potential, arguing that the leading <a href="https://en.coin-turk.com/sec-accepts-hashdexs-19b-4-application-for-crypto-etf/" data-wpel-link="internal">cryptocurrency</a> provides protection against inflation and economic uncertainty. 
The recent purchase was financed through a combination of cash reserves and a recently completed $750 million bond issuance. This funding strategy has become a cornerstone of the company’s approach, enabling it to leverage both existing assets and external financing to bolster its Bitcoin reserves. 
With this acquisition, MicroStrategy now controls approximately 1.3% of the total Bitcoin supply (21 million BTC). The company had previously announced another purchase on August 1, where it acquired 169 BTC. 
<img loading="lazy" loading="lazy" decoding="async" class="aligncenter wp-image-388632" src="https://coin-turk.com/wp-content/uploads/2024/09/Microstrategy-Bitcoin.png" alt="" width="760" height="563"> 
<h2 style="text-align: justify" id="strong-bitcoin-s-initial-reaction-was-negative-strong">Bitcoin’s Initial Reaction Was Negative</h2> 
Interestingly, Bitcoin’s response to MicroStrategy’s latest purchase was negative. The leading cryptocurrency, which was trading above $58,000 recently, dropped to as low as $57,830 following the purchase announcement. 
As of the time of writing, Bitcoin is trading at $57,834. 
The post <a href="https://en.coin-turk.com/microstrategy-expands-its-bitcoin-holdings-with-significant-purchase/" data-wpel-link="internal">MicroStrategy Expands Its Bitcoin Holdings with Significant Purchase</a> appeared first on <a href="https://en.coin-turk.com" data-wpel-link="internal">COINTURK NEWS</a>.

MicroStrategy Expands Its Bitcoin Holdings with Significant Purchase

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