Bitcoin

MicroStrategy, the publicly traded business intelligence powerhouse, has announced a significant expansion of its <a href="https://yellow.com/asset/btc">Bitcoin</a> portfolio. As revealed in a filing on November 25, the company acquired about 55,000 BTC for $5.4 billion between November 18 and 24. This acquisition was financed through proceeds obtained from recent equity and debt offerings. 
Following this purchase, MicroStrategy's total Bitcoin holdings have surged to an impressive 386,700 BTC. This accumulation, achieved at a total expenditure of $21.9 billion, reflects an average acquisition cost of $56,761 per Bitcoin. That is nearly 1.7% of all Bitcoin supply. 
The firm's aggressive buying strategy near Bitcoin’s fresh peak, close to $100,000, underscores its expectations for continued appreciation in Bitcoin's value. This optimism is largely fueled by increasing institutional adoption and potential favorable crypto legislation under the new U.S. presidential administration. 
In connection, Allianz, Germany’s largest insurer, has acquired 24% of MicroStrategy’s $2.6 billion notes, highlighting further confidence in the company's strategy. 
This is an evolving story. Additional updates will be provided as more information becomes available. 
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MicroStrategy Acquires Stunning $5.4B in Bitcoin, Now Controls 1.7% of Supply

Yellow News

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