MicroStrategy buys 5,262 bitcoins for $561 million, bringing total holdings to 444,262 BTC. CEO Saylor remains bullish on Bitcoin.
In a major move, MicroStrategy, a business intelligence company, has recently bought 5,262 bitcoins for about $561 million. The average price of these bitcoins was $106,662 each. MicroStrategy now owns 444,262 of these tokens as of December 22, 2024, costing the company just over $27.7 billion in buy sales total. These Bitcoins have traded at an average price of $62,257 each. Michael Saylor, the CEO of MicroStrategy, shared the update through his official X account on December 23.
According to the official release, the company earned a Bitcoin yield of 47.4% for the QTD and 73.7% for the YTD. That means the company’s Bitcoin investments are profitable.
Previously, on December 16th, MicroStrategy made another huge Bitcoin purchase. In the meantime, the company also bought 15,350 bitcoins for $1.5 billion.
MicroStrategy Holds Strong Belief in Bitcoin Despite Volatility
Investors and analysts take note of MicroStrategy’s large Bitcoin holdings. A number of people are paying close attention to how the company’s Bitcoin investments play out over time. One of the most volatile currencies known today is Bitcoin, its value normally increases or decreases very fast. These fluctuations, however, are not putting MicroStrategy off as the company owns a large stake in Bitcoin in its belief for future growth.
Michael Saylor, the founder of MicroStrategy, has also recently made a bold suggestion beyond its Bitcoin investments. He urged the U.S. government to sell the gold it owns and invest in Bitcoin instead. Saylor suggested that the U.S. hold 20%–25% of the total Bitcoin supply. He thinks the U.S. dollar would become even stronger as the global reserve currency.
The company’s ongoing investments in Bitcoin are based on MicroStrategy’s strong belief in the cryptocurrency’s future. With the fluctuations of Bitcoin’s price, the company is set on keeping a lot of Bitcoin. As a result, MicroStrategy now becomes one of the largest Bitcoin holders in the world. In the coming years, all eyes will be on how these investments perform as the market evolves.
Source: https://www.livebitcoinnews.com/microstrategy-buys-5262-bitcoin-for-561-million/