MicroStrategy Boosts its Bitcoin Holdings
MicroStrategy, the largest corporate holder of Bitcoin, has recently added to its Bitcoin holdings with a purchase worth $608 million. This increases the company’s Bitcoin holdings by 10% and brings the total value of their Bitcoin holdings to over $5 billion. The purchase was made in November, with MicroStrategy buying 16,139 BTC at an average price of $36,785 per BTC.
MicroStrategy Continues to Accumulate Bitcoin
In November, MicroStrategy further increased its Bitcoin holdings by purchasing BTC worth $608 million. This brings their total Bitcoin holdings to a staggering 174,530 BTC, bought at an average price of $30,252. The company’s founder, Michael Saylor, shared the news of this latest purchase on X.
November Signifies Increased Bitcoin Purchases
November has seen an uptick in MicroStrategy’s Bitcoin purchases, with the company buying 16,139 BTC. This brings their Bitcoin holdings to over $5 billion. In October, MicroStrategy held 158,400 BTC and has since increased its holdings by 10%. They now hold over 174,530 BTC in total.
MicroStrategy’s Bitcoin Holdings Outpace Competitors
The value of MicroStrategy’s Bitcoin holdings now exceeds 70% of the company’s stock market valuation. Their Bitcoin holdings are more than 12 times larger than those of Marathon Digital, their closest institutional rival and peer in Bitcoin mining. Marathon Digital currently holds 13,726 BTC, worth around $517 million.
Bitcoin Acts as a Reserve Asset for MicroStrategy
MicroStrategy began purchasing Bitcoin in August 2020 and has continued to do so, despite the cryptocurrency’s price volatility. CEO Michael Saylor has defended these purchases, stating that Bitcoin serves as a reserve asset for the company, protecting against inflationary pressures. Currently trading at $38,300, Bitcoin’s price has seen both highs and lows.
Hot Take: MicroStrategy Boosts Bitcoin Holdings, Now Worth $5 Billion
MicroStrategy, the leading corporate holder of Bitcoin, has increased its Bitcoin holdings by purchasing $608 million worth of BTC. This brings their total Bitcoin holdings to over $5 billion. Despite Bitcoin’s volatility, MicroStrategy remains committed to its BTC strategy, with CEO Michael Saylor emphasizing Bitcoin’s role as a reserve asset against inflation. Their Bitcoin holdings now exceed their competitors, making MicroStrategy a dominant player in the crypto market.
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