Bitcoin

when

MicroStrategy, led by the fervent <a href="https://yellow.com/asset/btc" rel="noopener noreferrer nofollow">Bitcoin</a> advocate Michael Saylor, has boldly announced a significant bitcoin acquisition despite the asset's price surpassing $100,000 for the first time. This remarkable purchase, however, has attracted fresh criticism from well-known Bitcoin skeptic Peter Schiff.
In a strategic move, MicroStrategy <a href="https://cryptopotato.com/microstrategy-announces-first-bitcoin-purchase-with-btc-prices-above-100k/" rel="noopener noreferrer nofollow">acquired</a> 15,350 BTC, investing approximately $1.5 billion at an average price of $103,386 per bitcoin.
With this transaction, the company's total Bitcoin holdings have soared to 439,000 BTC. This arsenal is now valued well over $44 billion, although the company shelled out $27.1 billion to amass it. Impressively, MicroStrategy’s quarterly BTC yield surged to 46.4%, with an annual yield exceeding 72%.
Sticking to its recent pattern, the company revealed this major acquisition on Monday, continuing a string of billion-dollar purchases. Predictably, Peter Schiff, a vocal critic of Bitcoin, seized the moment to express skepticism.
He argued that Bitcoin prices might tumble when MicroStrategy halts its purchasing spree. In a pointed comment, Schiff remarked on the potential market impacts should the company be compelled to cease acquisitions or liquidate assets.
This announcement marked a pioneering moment for MicroStrategy as it embraced the milestone of Bitcoin prices breaching the $100,000 threshold. Despite market volatility and external critiques, the firm remains unwavering in its Bitcoin strategy, as highlighted in Saylor’s latest disclosure on social media.

MicroStrategy's Massive $1.5B Bitcoin Buy Marks First Above $100K

Yellow News

Other articles published on Dec 16, 2024

Trump’s World Liberty Invests Big in ONDO, ETH, and AAVE

Regret Missing Brett? Don’t Let This Best Meme Coin Presale for Massive Return Potential Be Your ...

Bluntz Highlights Potential Rise in PYTH and BONK as Key Altcoins

Trump-Backed Crypto Project Spends $45M on Crypto Investments: Report

Fasqon’s Unique Features

Best Cryptos to Invest in This Month: Qubetics Presale Phase 13, $6.8M Raised as Bitcoin Hits Rec...

Join our free newsletter for daily crypto updates!