Bitcoin

<p style="text-align: justify">You can also read this news on BH NEWS: <a href="https://en.bitcoinhaber.net/microstrategy-increases-bitcoin-holdings-again" data-wpel-link="internal">MicroStrategy Increases Bitcoin Holdings Again</a><br></p>
<p style="text-align: justify">MicroStrategy, a prominent software company under the leadership of Michael Saylor, has significantly expanded its <a href="https://en.bitcoinhaber.net/blackrock-etf-overtakes-microstrategy-in-bitcoin-holdings" data-wpel-link="internal">Bitcoin</a> portfolio. Recently, the firm purchased 18,300 Bitcoin, <a href="https://finance.coin-turk.com/" rel="nofollow noopener" target="_blank" data-wpel-link="exclude">investing</a> approximately $1.11 billion. With this transaction, MicroStrategy’s total Bitcoin reserves have reached an estimated value of $9.45 billion, translating to 244,800 Bitcoin by September 2024.</p> 
<h2 id="why-does-microstrategy-keep-buying">Why Does MicroStrategy Keep Buying?</h2> 
<p style="text-align: justify">Having transitioned from its roots in software to becoming a major player in the Bitcoin market, MicroStrategy aims to solidify its stance as the foremost public institutional investor in Bitcoin. The firm initiated its robust accumulation approach in 2020, driven by a belief in Bitcoin’s superiority as a value store over conventional currencies.</p> 
<p style="text-align: justify">CEO Michael Saylor is a staunch advocate for Bitcoin, often highlighting its potential to safeguard against inflation and economic turbulence. He consistently conveys his optimism regarding Bitcoin’s enduring prospects and resilience in the financial domain.</p> 
<h2 id="how-does-microstrategy-fund-its-purchases">How Does MicroStrategy Fund Its Purchases?</h2> 
<p style="text-align: justify">This notable acquisition was supported by both the company’s cash reserves and a $750 million bond issue recently concluded. This dual financing tactic has become essential for MicroStrategy, enabling the company to bolster its Bitcoin holdings through a mix of internal funds and external financing methods.</p> 
<h2 id="key-insights-from-the-acquisition">Key Insights from the Acquisition</h2> 
<p style="text-align: justify"> • MicroStrategy now possesses about 1.3% of Bitcoin’s entire supply, which is capped at 21 million.<br> • The company’s last Bitcoin purchase was reported on August 1, with a modest addition of 169 Bitcoin.<br> • Despite the significant purchase, Bitcoin’s market behavior showed a decline post-announcement, dropping from over $58,000 to $57,830. </p> 
<p style="text-align: justify">Following the recent acquisition, Bitcoin’s value showed a slight decrease, reflecting a potentially cautious market sentiment. At the time of reporting, Bitcoin was valued at $57,834, indicating a minor shift from prior trading levels. MicroStrategy’s ongoing commitment underscores its strategic emphasis on Bitcoin, aligning with its long-term financial objectives.</p> 
<h5><span style="font-weight:bold;font-size:16px">Continue Reading: </span> <a href="https://en.bitcoinhaber.net/microstrategy-increases-bitcoin-holdings-again" data-wpel-link="internal">MicroStrategy Increases Bitcoin Holdings Again</a></h5>

MicroStrategy Increases Bitcoin Holdings Again

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