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In a transfer that underscores MicroStrategy’s unwavering dedication to Bitcoin, the software program firm has added 5,445 extra BTC to its company treasury.
The newest acquisition, made on September 24, 2023, comes at a median value of roughly $27,053 per Bitcoin, amounting to an funding of $147.3 million.
This buy brings MicroStrategy’s whole Bitcoin holdings to a staggering 158,245 BTC, acquired at a median value of round $29,582 per Bitcoin, equal to roughly $4.68 billion.
MicroStrategy’s CEO, Michael Saylor, has been an outspoken advocate for Bitcoin, touting it as digital gold and emphasizing its position as a strategic treasury reserve asset. This newest acquisition additional cements MicroStrategy’s place as one of the distinguished institutional traders in Bitcoin.
The transfer comes as no shock to these following MicroStrategy’s journey on this planet of cryptocurrencies. The corporate first ventured into Bitcoin investments in August 2020 when it made its preliminary buy. Since then, it has continued to build up Bitcoin, even utilizing debt to finance a few of its acquisitions.
All of the whereas, Saylor has continued to claim that Bitcoin is “underestimated” in comparison with different crypto market alternatives, as this video from Bitcoin Historian Pete Rizzo exhibits. Saylor has repeatedly stated that altcoins are overvalued and ought to be offered.
With the rising recognition of Bitcoin’s worth as a retailer of worth and a possible hedge towards financial uncertainty, it stays to be seen whether or not extra establishments will observe in MicroStrategy’s footsteps.
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