Bitcoin

Million

<figure> 
 <figcaption>
 Cover image via <a href="https://u.today/">U.Today</a>
 </figcaption> 
</figure>
MicroStrategy has <a href="https://twitter.com/saylor/status/1730222828270612851">announced</a> the acquisition of an additional 16,130 Bitcoins, a transaction amounting to approximately $593.3 million.
This purchase, which was being carried out between Nov. 1 and Nov. 29, averaged at $36,785 per coin, according to the company's <a href="https://www.microstrategy.com/content/dam/website-assets/collateral/financial-documents/financial-document-archive/form-8-k_11-30-2023.pdf">regulatory filing</a>.
This recent transaction has significantly bolstered MicroStrategy's Bitcoin holdings to an impressive total of 174,530 coins that were acquired at an average price of $30,252 per Bitcoin, including fees and expenses. The total investment by the company into Bitcoin now stands at a stunning $5.28 billion.
This strategic move follows MicroStrategy's previous purchase in October. Back then, the company acquired an additional 155 Bitcoins for a modest $5.3 million.
Michael Saylor, cofounder of MicroStrategy, recently predicted a significant price surge for Bitcoin in an <a href="https://www.cnbc.com/video/2023/11/02/we-are-big-bitcoin-bulls-says-microstrategys-michael-saylor.html">interview</a> with CNBC.
His bullish prediction is based on the upcoming "halving" event and potential approval of the first spot Bitcoin ETF, which he believes will increase demand and decrease supply.

$593 Million Bitcoin (BTC) Purchase Announced by MicroStrategy

U_Today

Other articles published on Nov 30, 2023

Borrowing USDC Is Very Expensive On Aave And Compound, What’s Going On?

ProShares Bitcoin ETF Hits $1.47B Triggering Investors Interest In Bitcoin

New Ethereum Layer-2 Blast Closes in on Solana After Reaching $600 Million TVL in 10 Days

Celo Developer Sets Framework for Layer-2 Decision by January

Exploring the Potential Surge in IMX and NEO Coin: A December Forecast

Cardano Bulls Have Risen! Is This the Bull Run We’ve Been Waiting For?

Join our free newsletter for daily crypto updates!