MicroStrategy Expands Bitcoin Holdings with $615.7 Million Purchase
Business intelligence firm MicroStrategy has increased its Bitcoin holdings to over $8 billion after acquiring an additional 14,620 BTC for approximately $615.7 million. This recent purchase comes after the company bought 16,130 BTC for $593.3 million in November. MicroStrategy now holds a total of 189,150 BTC, valued at over $8 billion based on the current price of $42,741 per Bitcoin.
The company’s first Bitcoin purchase was made in 2020 when it acquired 21,454 BTC for $250 million. MicroStrategy stated that Bitcoin can act as a hedge against inflation and has the potential for higher returns compared to other assets. The decision to invest in Bitcoin was part of the company’s long-term value maximization strategy.
Hot Take: MicroStrategy Bolsters Bitcoin Holdings with $615.7 Million Purchase
MicroStrategy continues its aggressive accumulation of Bitcoin, adding another $615.7 million worth of BTC to its already substantial holdings. With a total of over 189,150 BTC now under its control, valued at more than $8 billion, MicroStrategy remains one of the largest institutional holders of the flagship cryptocurrency. The company believes that Bitcoin is a reliable store of value and an attractive investment asset with significant long-term appreciation potential.
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