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MicroStrategy Continues Bitcoin Buying Spree with $209M BTC Added
In a shocking move, MicroStrategy has continued its Bitcoin buying spree, acquiring an additional 2,138 BTC at a staggering $209 million. This is the eighth consecutive purchase made by the company over the past two months. With this recent acquisition, the company’s total holdings now stand at a whopping 446,400 BTC.
The latest purchase involved 2,138 BTC, which were acquired for $209 million, translating to an average cost of $97,837 per coin, according to a company press release. As a result, MicroStrategy’s quarter-to-date Bitcoin yield has reached an astonishing 47.8%, while the year-to-date yield has surpassed 74.1%. Furthermore, the company’s cumulative investment in Bitcoin has now reached $27.9 billion, with an average acquisition price of $62,428 per BTC.
The company began its buying spree in early November and continues to do so, consistently adding thousands of Bitcoins to its reserves. Last week alone, MicroStrategy added 5,262 BTC to its holdings at a cost of $516 million. This significant move solidifies the company’s position as the largest Bitcoin-holding public company.
Rumors are circulating that the firm is planning a shareholder meeting to discuss additional purchases and potential expansion of its already substantial portfolio. As for Michael Saylor, the Executive Chairman of MicroStrategy, he remains steadfast in his bullish outlook on BTC. He has repeatedly stated his intention to continue acquiring more Bitcoin as part of the company’s 21-21 policy.
While this recent surge in buying activity may raise concerns among some investors, it appears that MicroStrategy is not deterred by market fluctuations. In fact, Saylor has even predicted that the price of Bitcoin will surpass $250,000 in 2025, and that its current rally may not be over yet.
Source: www.cryptonewsz.com
