Jerome Powell

Million

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 <p>Business intelligence and software company, MicroStrategy has made another massive Bitcoin (BTC) purchase. The firm’s CEO, Michael Saylor, announced on X that his company has bought another 5,445 BTC for about $147.3 million. This brings the average cost of each BTC to around $27,053. As of Sept. 24, the company holds 158,245 BTC, worth a whopping $4.68 billion, with an average price for each BTC around $29,582.</p> 
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    <p lang="en" dir="ltr">MicroStrategy has acquired an additional 5,445 BTC for ~$147.3 million at an average price of $27,053 per #<a rel="dofollow" title="bitcoin" href="https://thebittimes.com/tag/bitcoin.html">bitcoin</a>. As of 9/24/23 @MicroStrategy hodls 158,245 $BTC acquired for ~$4.68 billion at an average price of $29,582 per <a rel="dofollow" title="bitcoin" href="https://thebittimes.com/tag/bitcoin.html">bitcoin</a>. $MSTR https://t.co/GbJtUoQfXv</p>— Michael Saylor⚡️ (@saylor) September 25, 2023
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 <p><strong>Also Read: Bitcoin Market to See Capital Influx of $300 Billion: Morgan Creek CEO</strong></p> 
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 <p>MicroStrategy’s latest purchase comes amid another week of out<a rel="dofollow" title="flows" href="https://thebittimes.com/tag/flows.html">flows</a> from the crypto markets. According to the latest weekly fund <a rel="dofollow" title="flows" href="https://thebittimes.com/tag/flows.html">flows</a> report by CoinShares, crypto investment products saw $9 million worth of out<a rel="dofollow" title="flows" href="https://thebittimes.com/tag/flows.html">flows</a>. This is the sixth consecutive week of out<a rel="dofollow" title="flows" href="https://thebittimes.com/tag/flows.html">flows</a> from the crypto markets. Moreover, Bitcoin (BTC) is once again leading the list of assets, seeing the most out<a rel="dofollow" title="flows" href="https://thebittimes.com/tag/flows.html">flows</a>. The original cryptocurrency saw $5.9 million worth of out<a rel="dofollow" title="flows" href="https://thebittimes.com/tag/flows.html">flows</a>, while Ethereum (ETH) followed second with $2.2 million.</p> 
 <h3 class="wp-block-heading" id="h-unlike-bitcoin-altcoins-are-seeing-inflows">Unlike Bitcoin, altcoins are seeing inflows</h3> 
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  <img decoding="async" width="1024" height="576" src="https://cdn.thebittimes.com/images/2023/09/25/ad93d7b59d4312311d953d11d8093ed3.webp" alt class="wp-image-109005" srcset="https://cdn.thebittimes.com/images/2023/09/25/ad93d7b59d4312311d953d11d8093ed3.webp 1024w, https://cdn.thebittimes.com/images/2023/09/25/ad93d7b59d4312311d953d11d8093ed3.webp 300w, https://cdn.thebittimes.com/images/2023/09/25/ad93d7b59d4312311d953d11d8093ed3.webp 768w, https://cdn.thebittimes.com/images/2023/09/25/ad93d7b59d4312311d953d11d8093ed3.webp 380w, https://cdn.thebittimes.com/images/2023/09/25/ad93d7b59d4312311d953d11d8093ed3.webp 550w, https://cdn.thebittimes.com/images/2023/09/25/ad93d7b59d4312311d953d11d8093ed3.webp 800w, https://cdn.thebittimes.com/images/2023/09/25/ad93d7b59d4312311d953d11d8093ed3.webp 1160w, https://cdn.thebittimes.com/images/2023/09/25/ad93d7b59d4312311d953d11d8093ed3.webp 1280w" sizes="(max-width: 1024px) 100vw, 1024px">
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 <p>While BTC and ETH saw out<a rel="dofollow" title="flows" href="https://thebittimes.com/tag/flows.html">flows</a>, some altcoins like Solana (SOL), Litecoin (LTC), and XRP saw minor in<a rel="dofollow" title="flows" href="https://thebittimes.com/tag/flows.html">flows</a>. SOL saw in<a rel="dofollow" title="flows" href="https://thebittimes.com/tag/flows.html">flows</a> of $0.3 million, LTC saw in<a rel="dofollow" title="flows" href="https://thebittimes.com/tag/flows.html">flows</a> of $0.5 million, and XRP saw in<a rel="dofollow" title="flows" href="https://thebittimes.com/tag/flows.html">flows</a> of $0.7 million. This pattern was also observed in the previous week, with SOL seeing in<a rel="dofollow" title="flows" href="https://thebittimes.com/tag/flows.html">flows</a> of $0.7 million and XRP seeing in<a rel="dofollow" title="flows" href="https://thebittimes.com/tag/flows.html">flows</a> of $0.13 million.</p> 
 <p>The development is interesting given that a US court has given the green light to defunct exchange FTX to liquidate its SOL holdings. While the fears about a $685 million liquidation still loom, investors and users don’t seem bothered.</p> 
 <p><strong>Also Read: Solana Holders Face $685 Million FTX ‘Sell-Off’ Risk</strong></p> 
 <p>However, Bitcoin and the larger crypto market could face fresh volatility this week in light of the economic announcements that are due. The US Fed will release its PCE data, along with the revised numbers for the US’s Q2 GDP growth. Additionally, Fed Chair Jerome Powell is scheduled to give his speech this Thursday, which may give hints about future economic policies. At press time, Bitcoin (BTC) was trading at $26,043.68, down by 2.0% in the last 24 hours.</p> 
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<p>Source: <a rel="dofollow" target="_blank" href="https://thebittimes.com/bitcoin-microstrategy-buys-147-million-btc-amid-outflows-tbt63925.html">https://thebittimes.com/bitcoin-microstrategy-buys-147-million-btc-amid-outflows-tbt63925.html</a></p>

Bitcoin: MicroStrategy Buys $147 Million BTC Amid Outflows

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