The software firm raised its total Bitcoin holdings to 423,650.
MicroStrategy announced the acquisition of 21,550 BTC for $2.1 billion.
For the sixth week running, starting in early November, MicroStrategy has increased its Bitcoin purchases. The software firm raised its total Bitcoin holdings to 423,650 after announcing the acquisition of 21,550 BTC for $2.1 billion.
Having achieved a BTC yield of 43.2% QTD and 68.7% YTD, MicroStrategy said in a press statement that it had bought 21,550 BTC for $2.1 billion, or an average price of $98,783 per BTC.
Banking on Bitcoin
The business spent $25.6 billion, or $60,324 per bitcoin, to purchase 423,650 BTC, bringing its total holdings in Bitcoin to 423,650 BTC. Between December 2 and 8, the software corporation made its latest acquisition, marking its sixth straight week of buying the flagship cryptocurrency. The corporation currently owns more than 2% of the Bitcoin supply as a result of its most recent acquisition.
Michael Saylor, co-founder of the firm, has lately urged the United States to sell its gold and get Bitcoin. The Bitcoin approach that MicroStrategy has implemented is being followed by other organizations. Worksport, a manufacturer, is the most recent to announce that it would purchase Bitcoin for its corporate treasury.
At the same time, a shareholder request was sent to Amazon by the National Center for Public Policy Research (NCPPR), which urged the corporation to diversify 5% of its cash reserves into Bitcoin. Next week, Microsoft shareholders will decide whether or not to accept Bitcoin, which might be a watershed moment for the tech giant.
After MicroStrategy’s disclosure, the price of Bitcoin recovered to $99,000. After soaring above $104,000 last week, the flagship cryptocurrency is once again settling around this region.
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