Bitcoin

Billion

In a bold move that solidifies its position as a leading corporate advocate of Bitcoin, MicroStrategy has acquired an additional 18,300 BTC for approximately $1.11 billion. This latest purchase brings the company’s total Bitcoin holdings to an impressive 244,800 BTC, which were acquired at an average price of $38,585 per Bitcoin. 
The software intelligence firm, led by outspoken Bitcoin proponent Michael Saylor, has been consistently accumulating the leading cryptocurrency since August 2020. Despite criticism and fluctuating portfolio valuations, MicroStrategy has remained steadfast in its commitment to Bitcoin, even issuing Convertible Senior Notes to fund its acquisitions. 
Saylor’s unwavering belief in Bitcoin’s potential has made headlines, with his recent prediction that the asset could reach $13 million by 2045. He argues that as Bitcoin grows to represent 7% of global capital, its price could surge by over 23,000%. 
MicroStrategy’s latest purchase, made between August 6 and September 12, 2024, was funded through the issuance and sale of common shares. The company has achieved a remarkable BTC yield of 17% year-to-date, outperforming the S&amp;P 500’s 12% growth rate. 
Saylor’s confidence in Bitcoin’s long-term potential has inspired other companies to follow suit. Japanese investment firm Metaplanet, for instance, has been consistently accumulating Bitcoin, just like MicroStrategy. 
As the cryptocurrency market continues to evolve, MicroStrategy’s aggressive Bitcoin acquisition strategy is expected to influence how other corporations manage their investment portfolios. The company’s success in leveraging Bitcoin as a stable financial asset class could pave the way for wider corporate adoption of digital currencies. 
With its total investment in Bitcoin nearing $9.45 billion, MicroStrategy remains the largest institutional holder of the cryptocurrency. The company’s unwavering commitment to Bitcoin serves as a testament to its belief in the asset’s ability to provide long-term value and stability in an ever-changing financial landscape.

MicroStrategy Doubles Down on Bitcoin with $1.1 Billion Purchase, Raising Total Holdings to 244,800 BTC

CoinstelegramEng

Other articles published on Sep 13, 2024

Solana Price Prediction for Today, September 13 – SOL Technical Analysis

5 Cryptocurrency Heists That Shook the Digital Finance World

How Will Chainlink Boost Soneium’s dApp Ecosystem?

Grayscale’s XRP Trust Will Boost Market Confidence, Pave Way for Future ETF — Bitget Analyst Ryan...

Stop Losing, Start Gaining– TRX and ADA Holders Struggle While DOGEN Traders Hit 1,000% Profits

CoinStats Announces Full Integration of TRON Blockchain

Join our free newsletter for daily crypto updates!