Bitcoin

Million

when

<h2 id="key-points">Key Points</h2> 
<ul> 
 <li>Bitcoin miner Riot Platforms bought more Bitcoin, increasing total holdings to around $1.68 billion in BTC.</li> 
 <li>BTC is currently trading close to $101,000 amidst increased market optimism.</li> 
</ul> 
<p>Bitcoin miner company Riot Platforms announced the purchase of more Bitcoin today.</p> 
<h2 id="riot-buys-5-117-btc-increasing-total-holdings-to-16-728-btc">Riot Buys 5,117 BTC, Increasing Total Holdings to 16,728 BTC</h2> 
<p>In a<a href="https://x.com/RiotPlatforms/status/1867570759704420356" rel="nofollow" target="_blank"> post</a> via X, Riot announced that the company bought 5,117 BTC at an average price of $99,699 per coin. This translates into more than $510 million in Bitcoin for the company’s latest purchase.</p> 
<p>Riot used the net proceeds from its recent $525 million offering, 0.75% coupon bond issue.</p> 
<p>Following this latest BTC purchase, the company increased its BTC holdings to 16,728 BTC, valued at around $1.68 billion at the time when they made the post via X and Bitcoin was trading at around $100,300.</p> 
<p>Riot’s latest purchase was made between December 10 and 12.</p> 
<p>On December 10, Riot <a href="https://x.com/RiotPlatforms/status/1866360897746481637" rel="nofollow" target="_blank">announced</a> the pricing for their offering of 0.75% Convertible Senior Notes.</p> 
<h2 id="riot-announced-pricing-for-525-million-offering">Riot Announced Pricing for $525 Million Offering</h2> 
<p>In the official press release, Riot announced the pricing for the $525 million aggregate principal amount of the 0.75% Convertible Senior Notes due 2030. According to the release, the notes were set to be sold in a private offering only to people reasonably believed to be qualified institutional buyers.</p> 
<p>This offering was upsized from the previously announced offering of $500 million notes. Also, the offering was closed on December 11, the <a href="https://www.riotplatforms.com/riot-announces-pricing-of-offering-of-0-75-convertible-senior-notes/" rel="nofollow noopener" target="_blank">press release</a> revealed.</p> 
<p>The Bitcoin miner’s vision is to become the world’s leading Bitcoin-driven infrastructure platform, according to the company that believes in combining an innovative spirit and strong community partnership.</p> 
<h2 id="bitcoin-is-trading-near-101-000">Bitcoin Is Trading Near $101,000</h2> 
<p>At the moment of writing this article, BTC is trading near $101,000 and has a market cap of $1.99 trillion.</p> 
<figure id="attachment_55079" aria-describedby="caption-attachment-55079" style="width: 100%" class="wp-caption alignnone">
 <a href="https://crypto.ro/en/wp-content/uploads/2024/12/BTC_1D_graph_coinmarketcap-2024-12-13T164647.031.jpeg"><img loading="lazy" decoding="async" class="wp-image-55079 size-full" src="https://crypto.ro/en/wp-content/uploads/2024/12/BTC_1D_graph_coinmarketcap-2024-12-13T164647.031.jpeg" alt="BTC price in USD today" width="1200" height="800" title="Bitcoin Miner Riot Platforms Bought Over $510M in BTC 35" srcset="https://crypto.ro/en/wp-content/uploads/2024/12/BTC_1D_graph_coinmarketcap-2024-12-13T164647.031.jpeg 1200w, https://crypto.ro/en/wp-content/uploads/2024/12/BTC_1D_graph_coinmarketcap-2024-12-13T164647.031-300x200.jpeg 300w, https://crypto.ro/en/wp-content/uploads/2024/12/BTC_1D_graph_coinmarketcap-2024-12-13T164647.031-1024x683.jpeg 1024w, https://crypto.ro/en/wp-content/uploads/2024/12/BTC_1D_graph_coinmarketcap-2024-12-13T164647.031-768x512.jpeg 768w, https://crypto.ro/en/wp-content/uploads/2024/12/BTC_1D_graph_coinmarketcap-2024-12-13T164647.031-750x500.jpeg 750w, https://crypto.ro/en/wp-content/uploads/2024/12/BTC_1D_graph_coinmarketcap-2024-12-13T164647.031-1140x760.jpeg 1140w" sizes="(max-width: 1200px) 100vw, 1200px"></a>
 <figcaption id="caption-attachment-55079" class="wp-caption-text">
  BTC price in USD today
 </figcaption>
</figure> 
<p>Bitcoin recently began a price rally fueled by the latest macroeconomic data in the US and the prospects of a new rate cut by the Fed in the US, amidst huge optimism regarding the upcoming Trump administration in the US.</p> 
<p>Now, the odds of a new interest rate cut of 25 bps are over 96%, according to <a href="https://www.cmegroup.com/markets/interest-rates/cme-fedwatch-tool.html" rel="nofollow noopener" target="_blank">CME Group</a> data.</p> 
<p>Bitcoin is surrounded by optimistic predictions and the upcoming price target for the digital asset is <a href="https://crypto.ro/en/news/bitcoin-to-hit-160000-and-surpass-8-adoption-threshold-in-2025/">$160,000 in 2025</a>.</p>

Bitcoin Miner Riot Platforms Bought Over $510M in BTC

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