MicroStrategy, the largest institutional Bitcoin (BTC) investor, continues expanding its cryptocurrency portfolio. The company, founded by Michael Saylor, a well-known cryptocurrency supporter, recently announced a significant Bitcoin purchase totaling $2.1 billion.
MicroStrategy’s Bitcoin Acquisition Strategy
Founded by Michael J. Saylor in 1989, MicroStrategy became publicly traded in 1998. However, the company’s global recognition stems from its active participation in the cryptocurrency market, particularly its aggressive Bitcoin purchasing strategy.
Despite sharp market downturns, MicroStrategy consistently buys Bitcoin, adhering to its long-term investment strategy. The company’s unwavering belief in Bitcoin’s future value sets it apart in the institutional investment world.
Latest Bitcoin Purchase Details
According to a filing submitted to the U.S. Securities and Exchange Commission (SEC) and a statement published on its official website, MicroStrategy purchased an additional 21,550 BTC between Dec. 2 and Dec. 8, 2024, for a total of $2.1 billion. The average purchase cost was $98,783 per BTC.
With this acquisition, MicroStrategy’s total Bitcoin holdings rose to 423,650 BTC, valued at approximately $25.6 billion based on the average purchase price of $60,324 per BTC.
Current Bitcoin Market Price
At the time of writing, Bitcoin’s price stands at $97,846, reflecting the company’s continued confidence in the cryptocurrency’s long-term potential. MicroStrategy’s strategic approach reinforces its position as a key player in the global cryptocurrency investment ecosystem.
- Analyst Warns: Axie Infinity (AXS) in Danger of Fall
- Record Sale: Virtual Land in Axie Infinity Fetches $2.4 Million
- Zignaly Joins Forces with Blokopia: 2 Altcoins Shake Hands
Follow us on TWITTER (X) and be instantly informed about the latest developments…
