- 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
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
Editors’ Picks
Crypto Today: Cardano, XLM, FLOKI lead $3.1 trillion rally, Russia bans crypto mining, Bitcoin eyes $95K
Cardano (ADA) price action ADA’s ongoing rally has been attributed to rumors that the Trump administration could collaborate with the Cardano network to build a blockchain voting system.
Trump administration allegedly seeks to create new crypto position in White House
President-elect Donald Trump and his team are reportedly seeking to introduce a new White House position for crypto policy, Bloomberg reported on Wednesday.
Solana Price Forecast: Traders move 6.7B SOL as bulls target all-time highs
Solana price has succumbed to a 7% dip after rejecting the $250 resistance on Monday. Negative shifts in vital trading indicators suggest bears could delay the all-time high breakout target.
FLOKI to go live on Coinbase few days after the exchange listed PEPE and WIF
Floki Inu (FLOKI) is down 5% on Wednesday following crypto exchange Coinbase's announcement that the token will begin trading on its platform over the next 24 hours.
Bitcoin: New high of $100K or correction to $78K?
Bitcoin surged to a new all-time high of $93,265 in the first half of the week, followed by a slight decline in the latter half. Reports highlight that Bitcoin’s current level is still not overvalued and could target levels above $100,000 in the coming weeks.
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.