In a recent move, MicroStrategy, the world’s largest corporate holder of bitcoin, has continued its accumulation phase by purchasing 2,136 additional bitcoins. This acquisition brings the company’s total stash to over 446,000 BTC.
Key Highlights:
* MicroStrategy allocated $209 million to acquire 2,136 BTC at an average price of $97,837 per bitcoin. * This marks the eighth consecutive Monday purchase made by the company. * With this acquisition, MicroStrategy’s total bitcoin holdings now stand at 446,400 units valued at approximately $27.9 billion. * The company has achieved a quarterly yield of 47.8% and a yearly yield of 74.1%.
Recent Investment Activity:
Despite slowing down on large-scale investments following announcements in November and December, MicroStrategy continues to allocate significant funds to its bitcoin portfolio.
* The latest purchase was made at an average price of $97.834 per BTC. * Since initiating its investment strategy, MicroStrategy has spent nearly $28 billion to accumulate its bitcoin holdings at an average price of $62,428.
Market Impact:
The current market value of MicroStrategy’s bitcoin holdings is estimated to be around $41.5 billion, resulting in an unrealized profit exceeding $13 billion.
However, some critics have questioned the impact of MicroStrategy’s purchases on the overall market performance. Notably, Peter Schiff has stated that these purchases may not be sufficient to sustain the upward trend in BTC prices.
Market Performance:
Bitcoin’s price has experienced fluctuations recently, dropping from over $108,000 to its current level of $93,000 following the Federal Open Market Committee (FOMC) meeting.
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Source: Cryptopotato.com
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