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MicroStrategy Buys Fresh 15,350 BTC for $1.5 Billion at $100,286 Per BTC
In a recent development, MicroStrategy, the largest corporate holder of Bitcoin, has made another substantial acquisition in the cryptocurrency market. The company has purchased an additional 15,350 Bitcoins (BTC) for $1.5 billion, with each unit priced at $100,286.
Following this new transaction, MicroStrategy’s total holdings now stand at a staggering 439,000 BTC, acquired at a cost of approximately $27.1 billion, with the average price per Bitcoin amounting to around $61,725.
The acquisition has significantly boosted MicroStrategy’s returns on their Bitcoin investment, with the yield currently standing at an impressive 46.4% for the current quarter and 72.4% year-to-date. The company’s commitment to holding a large stake in Bitcoin has yielded substantial financial gains.
This development follows earlier reports that treasuries on a bitcoin standard have seen a remarkable increase of 143% year-to-date, as revealed by Michael Saylor, Chairman of MicroStrategy, yesterday.
Notably, this purchase is part of a larger trend, with other US companies like Marathon Digital and Riot Platforms also engaging in significant Bitcoin buying sprees. The firms purchased $3.26 billion worth of Bitcoin within the first week of December alone, marking an unprecedented display of corporate enthusiasm for the cryptocurrency market.
As the prospective Donald Trump administration looks set to ease regulations and policies benefiting the crypto industry, it appears that more US companies are preparing to join the Bitcoin buying frenzy.
Source: www.crypto-news.net
