MicroStrategy Strengthens Its Bitcoin Holdings With $1.11 Billion!
Michael Saylor, founder of MicroStrategy, recently announced on his X account (formerly Twitter) that the company has acquired an additional 18,300 bitcoins for approximately $1.11 billion. This acquisition was made at an average price of $60,408 per bitcoin, bringing the company’s total holdings to 244,800 BTC as of September 12, 2024.
Massive BTC accumulation by MicroStrategy
Since 2020, MicroStrategy has adopted an aggressive strategy of accumulating Bitcoin, viewing this crypto as a store of value superior to traditional assets. With this new acquisition, the company’s bitcoin holdings are now valued at approximately $14 billion, purchased at an average price of $38,585 per BTC. This strategy has positioned MicroStrategy as the world’s largest institutional holder of Bitcoin (BTC).
The announcement of this massive acquisition has had a notable impact on the crypto market. The price of BTC has seen a slight increase of 0.55% over the past 24 hours, currently trading at $58,498. This positive market reaction reflects investor confidence in MicroStrategy’s strategy and in the long-term potential of Bitcoin.
Bitcoin: a remedy against inflation?
Michael Saylor considers Bitcoin as a protection against inflation and an alternative to fiat currencies. By accumulating BTC, MicroStrategy aims to protect its assets from monetary devaluation and benefit from the potential appreciation of the cryptocurrency. This strategy has attracted the attention of other companies and institutional investors, who now see Bitcoin as essential to their investment strategy.
With this new acquisition, MicroStrategy strengthens its position in the crypto ecosystem and plans to continue its purchases based on market conditions, thus inspiring other companies to adopt BTC as a store of value.
The acquisition of these additional 18,300 BTC by MicroStrategy underscores the company’s confidence in the long-term potential of this cryptocurrency. With total holdings of 244,800 BTC, MicroStrategy positions itself as a major player in the crypto world, influencing market trends and institutional adoption of Bitcoin.
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Le monde évolue et l'adaptation est la meilleure arme pour survivre dans cet univers ondoyant. Community manager crypto à la base, je m'intéresse à tout ce qui touche de près ou de loin à la blockchain et ses dérivés. Dans l'optique de partager mon expérience et de faire connaître un domaine qui me passionne, rien de mieux que de rédiger des articles informatifs et décontractés à la fois.
The views, thoughts, and opinions expressed in this article belong solely to the author, and should not be taken as investment advice. Do your own research before taking any investment decisions.