MicroStrategy Acquires 12K Bitcoins Worth $347M, Creating a Buzz!

By Lola Coin Jun 28, 202359Views

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Business intelligence firm MicroStrategy has once again made headlines in the cryptocurrency space with the acquisition of an additional 12,333 Bitcoins. The purchase, made at an average price of $28,136, brings the company’s total Bitcoin holdings to 152,333, with an average purchase price of $29,668. This represents a cumulative cost of around $4.52 billion. MicroStrategy’s executive chairman, Michael Saylor, has been hailed as a visionary leader in the digital asset realm, driving the company’s Bitcoin-centric strategy. However, market observers have raised concerns about the potential for downward price movement following the purchase. While Bitcoin’s volatility is well-documented, the broader context of increasing institutional interest in the asset and anticipation of a spot Bitcoin ETF approval suggests continued growth for the cryptocurrency.

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