Price Change Analysis 🚀🔥
Why Is Bitcoin Surging? 🚀🔥
MicroStrategy Invests $4.6B in Bitcoin Despite Its Surge Beyond $90K
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MicroStrategy recently acquired an additional $4.6 billion worth of bitcoin.
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The company's total bitcoin holdings now stand at an estimated $30 billion.
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To fund this purchase, MicroStrategy sold approximately 13.6 million shares.
Since adopting a bitcoin reserve strategy in 2020, the company’s open-source approach has inspired other publicly traded firms to invest in the cryptocurrency. Over the past week, MicroStrategy ($MSTR) significantly expanded its bitcoin holdings. Regulatory filings show the company purchased 51,780 BTC for $4.6 billion over six days ending Sunday.
🚀🔥 Key Highlights:
MicroStrategy’s bitcoin reserves now total 331,200 BTC, valued at roughly $30 billion.
However, this is still less than BlackRock’s iShares Bitcoin Trust (IBIT), which holds 471,329 BTC, making it the largest bitcoin ETF.
MicroStrategy's shares have risen 9.7% to $373.96 in recent trading, marking a year-to-date increase of over 445%.
Meanwhile, bitcoin was trading above $91,000 on Monday, nearly doubling in price since the start of the year.
