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Microstrategy buys fresh 15,350 BTC for $1.5 billion at $100,286 per BTC
In a latest development in the cryptocurrency market, MicroStrategy, the largest corporate holder of Bitcoin, has announced that it has acquired an additional 15,350 Bitcoins (BTC) for a staggering $1.5 billion. This massive purchase brings the company’s total holdings to a whopping 439,000 BTC, acquired at a cost of approximately $27.1 billion.
The acquisition was made at a unit price of $100,286 per Bitcoin, according to Michael Saylor, MicroStrategy’s chairman, who revealed the details on his X page. This purchase further solidifies MicroStrategy’s position as one of the largest institutional investors in Bitcoin.
The move is seen by many analysts as a significant development in the market, particularly given the recent surge in prices and growing institutional interest in cryptocurrency investing. The acquisition has also taken MicroStrategy’s returns on its Bitcoin investment to an impressive 46.4% on a Quarter-to-Date basis and a whopping 72.4% on a Year-to-Date basis.
Interestingly, this massive purchase comes amidst reports of other American companies, such as Marathon Digital and Riot Platforms, increasing their holdings in the cryptocurrency. The trend is expected to continue, with some analysts predicting that more US companies will follow suit in the near future.
It’s worth noting that the current regulatory environment is expected to become even more favorable for crypto investors, following hints from the prospective Donald Trump administration to ease restrictions and implement pro-crypto policies.
The development comes as a significant boost to the cryptocurrency market, which has seen tremendous growth in recent months.
Source: http://www.crypto-news.net
