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-significantly" data-wpel-link="internal" rel="noopener noreferrer nofollow">MicroStrategy Increases Bitcoin Holdings Significantly</a><br></p>
<p style="text-align: justify">MicroStrategy, a renowned software firm led by Michael Saylor, has augmented its <a href="https://en.bitcoinhaber.net/bitcoin-trading-hits-new-highs-following-market-dynamics" data-wpel-link="internal" rel="noopener noreferrer nofollow">Bitcoin</a> assets with a notable purchase. The company recently acquired 18,300 Bitcoins at a cost of roughly $1.11 billion. This latest acquisition brings the corporation’s total Bitcoin holdings to approximately $9.45 billion, amassing a total of 244,800 Bitcoins as of September 2024.</p>
<h2 id="why-is-microstrategy-accumulating-bitcoins">Why Is MicroStrategy Accumulating Bitcoins?</h2>
<p style="text-align: justify">MicroStrategy’s strategy to accumulate Bitcoin aggressively positions it as the leading publicly traded company in terms of Bitcoin <a href="https://finance.coin-turk.com/" rel="noopener noreferrer nofollow" target="_blank" data-wpel-link="exclude">investment</a>. This relentless acquisition strategy commenced in 2020, steered by the belief in Bitcoin’s superiority as a value store compared to traditional currencies.</p>
<p style="text-align: justify">Company CEO Michael Saylor often highlights Bitcoin’s potential to safeguard against inflation and economic instability. He continues to advocate for the cryptocurrency’s long-term benefits, reinforcing the company’s commitment to its Bitcoin-focused investment approach.</p>
<h2 id="how-does-microstrategy-finance-these-purchases">How Does MicroStrategy Finance These Purchases?</h2>
<p style="text-align: justify">The recent acquisition was made possible through a mix of available cash reserves and proceeds from a $750 million bond issuance. This financial model is central to MicroStrategy’s strategy, allowing the company to use both its current assets and external financing to expand its Bitcoin portfolio.</p>
<h2 id="key-observations">Key Observations</h2>
<p style="text-align: justify">– MicroStrategy’s Bitcoin holdings represent about 1.3% of the total Bitcoin supply.<br> – The company previously purchased an additional 169 Bitcoins on August 1.<br> – Despite the acquisition, Bitcoin’s price experienced a slight decline post-announcement.</p>
<p style="text-align: justify">Interestingly, the market’s immediate reaction was a drop in Bitcoin’s price. Despite trading above $58,000, the price fell to $57,830 following <a href="https://newslinker.co" target="_blank" rel="noopener noreferrer nofollow" data-wpel-link="exclude">the news</a> of MicroStrategy’s acquisition. As of now, Bitcoin is trading at $57,834, reflecting the market’s volatility even amid significant purchases like this one.</p>
<h5><span style="font-weight:bold;font-size:16px">Continue Reading: </span> <a href="https://en.bitcoinhaber.net/microstrategy-increases-bitcoin-holdings-significantly" data-wpel-link="internal" rel="noopener noreferrer nofollow">MicroStrategy Increases Bitcoin Holdings Significantly</a></h5>

MicroStrategy Increases Bitcoin Holdings Significantly

Table of Contents

BH NEWS

Other articles published on Sep 13, 2024

This Cat-Themed Meme Coin Marks New ATH as ‘Cat Season’ Knocks on the Door: Details

HTX Adopts Bitcoin Lightning for Faster Trades

El Salvador’s Bitcoin affair accused of being nothing but a PR stunt

Zoho launches AI-rich version of Zoho Analytics to democratise self-service BI

4 Crypto Coins to Turn $500 to $5M as Oracle CTO Sees $100B AI Boom

Bitcoin’s Bullish Breakout Beckons: Elliot Wave Theory Predicts Surge to $190,000

Join our free newsletter for daily crypto updates!