MicroStrategy Adds 2,530 Bitcoin to Holdings, Nearing 450,000
MicroStrategy Adds 2,530 Bitcoin to Holdings, Nearing 450,000MicroStrategy announced the acquisition of approximately 2,530 Bitcoin between January 6th and January 12th, spending roughly $243 million in the process. The average purchase price was approximately $95,972 per Bitcoin
MicroStrategy Adds 2,530 Bitcoin to Holdings, Nearing 450,000
MicroStrategy announced the acquisition of approximately 2,530 Bitcoin between January 6th and January 12th, spending roughly $243 million in the process. The average purchase price was approximately $95,972 per Bitcoin. This latest purchase underscores MicroStrategy's continued belief in the long-term value of Bitcoin.
As of January 12th, 2024, MicroStrategy and its subsidiaries hold approximately 450,000 Bitcoin, according to company disclosures. The total cost basis of these holdings is approximately $28.2 billion, with an average purchase price (inclusive of fees and expenses) of roughly $62,691 per Bitcoin. This substantial investment highlights MicroStrategy's unwavering commitment to the digital currency market and its strategy of treating Bitcoin as a long-term strategic asset.
Notably, MicroStrategy has been a major investor in Bitcoin since 2020, and has become one of the world's largest publicly traded holders of the cryptocurrency. Its consistent buying activity directly influences market confidence in digital currencies. Despite Bitcoin's volatile price fluctuations, MicroStrategy has steadfastly maintained its investment strategy, remaining unfazed by short-term market swings.
This recent purchase further solidifies MicroStrategy's position as a staunch Bitcoin supporter. The company's decision to hold Bitcoin as a long-term strategic reserve asset reflects a positive outlook on the future of digital currencies. The $243 million investment demonstrates MicroStrategy's confidence and determination in this strategy, further enhancing its influence within the cryptocurrency industry. Future investment moves by MicroStrategy will continue to be closely watched by the market, potentially impacting Bitcoin's price and the broader cryptocurrency market.
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