Bitcoin

Billion

<ul class="wp-block-list">
 <li>MicroStrategy buys 51,780 BTC for $4.6B, boosting its total holdings to 331,200 BTC, worth $30B at current prices.&nbsp;&nbsp;</li>  
 <li>Economist Peter Schiff critiques MicroStrategy's $6.63B Bitcoin spree, predicting their $42B plan may end early.&nbsp;&nbsp;</li>  
 <li>MicroStrategy's $4.6B Bitcoin buy was funded by selling 13.6M shares, aligning with its bold 21/21 strategy.&nbsp;&nbsp;</li> 
</ul>  
<p>Leading business intelligence firm MicroStrategy has increased its Bitcoin holdings. According to a recent regulatory <a href="https://assets.contentstack.io/v3/assets/bltb564490bc5201f31/bltc841ab65fe7d972b/673b392ad908785dbba03616/form_8-k_11-18-2024.pdf" rel="noopener noreferrer nofollow">filing</a>, the corporation paid around $4.6 billion to buy 51,780 Bitcoin. This boosts the total Bitcoin stash to 331,200 BTC. The average price per Bitcoin was $88,627.</p>  
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<p>This investment is consistent with it's strategy to hold Bitcoin as a core reserve asset. The company has committed to its policy of purchasing Bitcoin to boost its corporate treasury. Its latest purchase demonstrates that it believes in the cryptocurrency's long-term potential.</p>  
<h2 class="wp-block-heading" id="h-21-21-plan-funds-the-acquisition"><strong>21/21 Plan Funds the Acquisition</strong></h2>  
<p>MicroStrategy financed this purchase through its ongoing 21/21 plan. The plan involves $42 billion in equity and debt sales over the next three years. Part of the strategy saw the business sell 13.6 million shares between November 11 and November 17, raising $4.6 billion.</p>  
<p>MicroStrategy has spent a total of $16.5 billion since purchasing the first bitcoin in August 2020. The average acquisition cost for its Bitcoin holdings is $49,874 per BTC. The company's Bitcoin reserve strategy has inspired other firms, including <a href="https://cryptonewsland.com/marathon-digital-plans-250m-to-boost-bitcoin-shares/" rel="noopener noreferrer nofollow">Marathon Digital Holdings</a> and Semler Scientific.</p>  
<h2 class="wp-block-heading" id="h-peter-schiff-reacts-to-microstrategy-s-strategy"><strong>Peter Schiff Reacts to MicroStrategy's Strategy</strong></h2>  
<p>Renowned economist Peter Schiff shared his thoughts on MicroStrategy’s rapid Bitcoin accumulation. He stated that the company has already spent $6.63 billion of its $42 billion goal within weeks.</p>  
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<p>Schiff stated on X that at this rate, the company might finish the strategy in under four months. He humorously added that Michael Saylor, the company's Executive Chairman, might need to devise a larger strategy soon.</p>  
<h2 class="wp-block-heading" id="h-microstrategy-s-role-as-a-leading-bitcoin-holder"><strong>MicroStrategy's Role as a Leading Bitcoin Holder</strong></h2>  
<p>With this latest purchase, MicroStrategy solidifies its position as the largest <a href="https://cryptonewsland.com/metaplanet-acquires-156-btc-secures-position/" rel="noopener noreferrer nofollow">corporate Bitcoin holder</a>. Its present holdings are worth more than $30 billion at present prices. This ambitious strategy demonstrates the firm's belief in the digital currency.</p>  
<p>Bitcoin's continuous price climb, which recently exceeded $90,000, validates MicroStrategy's investment strategy. The company remains a key player in institutional Bitcoin adoption.</p> 
<p>The post <a href="https://cryptonewsland.com/microstrategys-bitcoin-strategy-draws-criticism-from-peter-schiff/" rel="noopener noreferrer nofollow">MicroStrategy’s Bitcoin Strategy Draws Criticism from Peter Schiff Amid $4.6 Billion Purchase</a> appeared first on <a href="https://cryptonewsland.com" rel="noopener noreferrer nofollow">Crypto News Land</a>.</p>

MicroStrategy’s Bitcoin Strategy Draws Criticism from Peter Schiff Amid $4.6 Billion Purchase

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