Popular Bitcoin bull firm Microstrategy announced the purchase of 55,000 BTC at the trade price of $97,862/BTC.
Microstrategy is a popular business intelligence firm, which trades on the Nasdaq exchange under index $MSTR. Since 2020, this company has been continuously buying Bitcoin as a reserve fund. Because of bull Bitcoin buy activities, the trade price of $MSTR also surged rapidly in the last 4 years.
On 25 Nov 2024, Michael Saylor, the chairman & former CEO of MicroStrategy, informed the Bitcoin community about the company’s latest Bitcoin buy amount.
He confirmed that the company purchased a total of 55,000 BTC at the trade price of $97,862. So now this company is holding a total of 386,700 BTC. That means the company spent nearly $5.4 billion to buy this big stash of Bitcoin this week.
So far, in total, Microstrategy spent an average of $57,761/BTC to acquire 386,700 Bitcoin. With this holding company is in net unrealised gain of $15.71 billion.
MicroStrategy has acquired 55,500 BTC for ~$5.4 billion at ~$97,862 per #bitcoin and has achieved BTC Yield of 35.2% QTD and 59.3% YTD. As of 11/24/2024, we hodl 386,700 $BTC acquired for ~$21.9 billion at ~$56,761 per bitcoin. $MSTR https://t.co/79ExzXk4UM
— Michael Saylor⚡️ (@saylor) November 25, 2024
Microstrategy ($MSTR) stock price action
However, the stock market is ready to open for trading, but already many experts claim that the trade price of $MSTR will show a significant jump today. The current trade price of $MSTR is $421.88. Notably the trade price of MicroStrategy stock surged 22% in the last 7 days.
The current trade price of #MicroStrategy ($MSTR) stock is $421.88. Next day price will pump significantly pic.twitter.com/4MsL7bgPVT
— Bitcoinik (@Bitcoinikdotcom) November 25, 2024
If the bull run in the Bitcoin market continues then the trade price of $MSTR will show continuous increment. Bitcoin bull sentiments The current trade price of Bitcoin is $97,720 & this price level is 0.42% high over the last 24 hours period.
The current trade price of #Bitcoin is $97,726 pic.twitter.com/yAs26Mmq7S
— Bitcoinik (@Bitcoinikdotcom) November 25, 2024
The latest report noted that the Bitcoin spot ETF issuers purchased a total of 34,869 BTC in the last 7 days, which is 11 times more than the total amount of Bitcoin mined in the same time period. This means that the consumption of Bitcoin by investors is 11 times more than the production of new Bitcoin.
🚨 LATEST: #Bitcoin spot ETFs bought around 34,860 $BTC this week while only 3,150 were mined. pic.twitter.com/etFFjvOLdP
— Cointelegraph (@Cointelegraph) November 24, 2024
Read also: South Korea decides not to adopt Bitcoin ($BTC) as National Bitcoin Reserve
