MicroStrategy buys 51,780 BTC for $4.6B
MicroStrategy bought 51,780 Bitcoin for $4.6 billion.
BTC averaged $88,627 when the corporation bought the tokens.
MicroStrategy has 331,200 Bitcoins.
On Monday, MicroStrategy stated it had bought 51,780 Bitcoin worth $4.6 billion at $88,627 each. Purchase increases business Bitcoin holdings to 331,200 BTC.
MicroStrategy buys $4.6 billion in Bitcoin.
The US presidential election and crypto market surge prompted MicroStrategy to buy Bitcoin twice.
The corporation reported buying 51,780 additional Bitcoin for $4.6 billion last week to the SEC. The corporation has 331,200 Bitcoins, at an average price of $88,627 per. MicroStrategy has spent $16.5 billion on Bitcoin at an average price of $49,874 during its purchasing binge.
MicroStrategy said the transaction was done using $4.6 billion from its November 11–17 share sale. Proceeds were utilized to buy more Bitcoin.
The company's 21/21 plan was for $42 billion in three years. The $21 billion in stock and debt will be used to buy more Bitcoin.
MicroStrategy became the biggest corporate Bitcoin holder last week, which may encourage individual investors to follow suit.
The company's year-to-date BTC yield is 41.8% and since October 1 is 20.4%.
Other news: Japanese investment company Metaplanet Inc. issued 1.75 billion Yen ($11.3 million) in bonds. The business said it will buy Bitcoin using sales revenues.
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