• MicroStrategy announced its latest acquisition of 18,300 Bitcoin tokens for $1.11 billion.
  • This brings its total holdings to 244,800 BTC, worth $14 billion.
  • MicroStrategy made the acquisition by selling a portion of its shares.

MicroStrategy CEO Michael Saylor announced on Friday that the company has acquired an additional 18,300 BTC for $1.11 billion at $60,408 per Bitcoin. The company now holds 244,800 BTC, valued at $14 billion.

MicroStrategy acquires more Bitcoin

Business intelligence firm MicroStrategy revealed its latest acquisition of 18,300 Bitcoin in an X post on Friday. The company now holds 244,800 BTC, expanding its lead as the top holder of Bitcoin among public companies.

MicroStrategy made its latest 18,300 BTC purchase at an average price of $60,408 per BTC, amounting to $1.11 billion in total. The announcement revealed that the company has seen a 17% gain on its Bitcoin holdings since the beginning of the year.

MicroStrategy began acquiring Bitcoin in 2020 after it shifted its corporate treasury strategy to include the top cryptocurrency as a primary asset. The company has aggressively acquired the digital asset over the past four years, based on Michael Saylor's opinion that Bitcoin serves as a store of value and a hedge against inflation.

MicroStrategy's latest acquisition was sponsored by funds raised through selling its shares. The details of the purchase, including the fees and exchanges, were outlined in a form-8K filing made to the Securities & Exchange Commission (SEC).

Following the announcement, Bitcoin's price has risen 3% in the past 24 hours, stretching its weekly gains to 11.6%. Bitcoin's latest rise may be due to a decrease in Bitcoin Exchange reserves and rising stablecoin reserves, per CryptoQuant data.

BTC Exchange Reserve

BTC Exchange Reserve

Rising stablecoin and decreasing Bitcoin exchange reserve indicate a potential for increased buying pressure and higher price upside.


Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers. The author will not be held responsible for information that is found at the end of links posted on this page.

If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.

FXStreet and the author do not provide personalized recommendations. The author makes no representations as to the accuracy, completeness, or suitability of this information. FXStreet and the author will not be liable for any errors, omissions or any losses, injuries or damages arising from this information and its display or use. Errors and omissions excepted.

The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice.

Recommended content


Recommended Content

Editors’ Picks

Bitcoin reaches new highs near $90,000, on-chain data show chances of pullback

Bitcoin reaches new highs near $90,000, on-chain data show chances of pullback

Bitcoin hit a new all-time high of $89,900 on Tuesday before easing to around $86,000, following a 30% surge since November 5. Technical indicators suggest the rally may be overstretched, with a potential corrective pullback ahead. 

More Bitcoin News
GIGA investor loses $6M to phishing scam via fake Zoom link

GIGA investor loses $6M to phishing scam via fake Zoom link

On Monday, a Gigachad (GIGA) investor lost $6.09 million due to a phishing attack involving a fake Zoom link. Crypto investigation firm Scam Sniffer declared the scam that led the victim to a malicious site, compromising their wallet.

More Cryptocurrencies News
Tron, Avalanche and Uniswap: Double-digit gains on the cards, technical indicators show

Tron, Avalanche and Uniswap: Double-digit gains on the cards, technical indicators show

Tron is breaking above an ascending triangle formation on Tuesday, signaling a potential rally continuation. While AVAX and UNI are retesting their crucial support level — if supported, this suggests an upside move — all three altcoins look poised for double-digit gains as the crypto rally continues.

More Cryptocurrencies News
BNB: Bullish technical pattern validated, eyes all-time high

BNB: Bullish technical pattern validated, eyes all-time high

Binance Coin trades slightly down on Tuesday after breaking above an ascending triangle formation on the weekly chart, following a 12.5% rally last week. The technical outlook suggests a bullish breakout pattern and continuation of the rally, with a target set for a new all-time high of $825.

More Binance News
Bitcoin: Further upside likely after hitting new all-time high

Bitcoin: Further upside likely after hitting new all-time high

Bitcoin hit a fresh high of $76,849 on Thursday as crypto-friendly candidate Donald Trump won the US presidential election. Institutional demand returned with the highest single-day inflow on Thursday since the ETFs’ launch in January.

Read full analysis
Best Forex Brokers with Low Spreads

Best Forex Brokers with Low Spreads

VERIFIED Low spreads are crucial for reducing trading costs. Explore top Forex brokers offering competitive spreads and high leverage. Compare options for EUR/USD, GBP/USD, USD/JPY, and Gold.

Read More

BTC

ETH

XRP