MicroStrategy is back at it again, and this time they’ve just dropped $209 million to buy 2,138 Bitcoin at around $97,837 each.
While Bitcoin prices were dancing between $92,850 and $93,150, founder Michael Saylor took to X to share this exciting news.
Give me all of it!
Since 2020, MicroStrategy has been on quite a Bitcoin-buying spree, making it the largest publicly traded company, not counting ETFs, to hold BTC on its balance sheet.
With this latest purchase, they now hold an impressive total of 446,400 BTC, having invested $27.9 billion overall. That averages out to about $62,428 per coin.
Saylor isn’t just throwing money around, he’s got a strategy behind this, and pointed out that the firm’s Bitcoin yield is sitting pretty at 47.8% for the current quarter and 74.1% year-to-date.
Clearly, MicroStrategy’s approach is paying off, and Saylor is eager to show that their investment strategy is more than just a gamble.
First mover
This bold move likely isn’t just about stacking coins, but it’s also a statement about the future of cryptocurrency in the global economy, as Saylor believes that this milestone reinforces the crypto industry’s place in traditional finance.
He’s ready to keep collaborating with regulators and businesses to shape the sector’s future.
MicroStrategy’s work shows how serious companies are taking Bitcoin as a legitimate asset class.
With their continued investments, they’re not only betting on Bitcoin but also want to setting an example for other corporations considering coming into the crypto market.
The future of money
For all you crypto fans out there, this news is more than just numbers, it’s about confidence in the market, because as companies like MicroStrategy make these big bets on Bitcoin, it can signal to other investors that there’s potential for growth and stability in the crypto space.
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