Bitcoin

<p style="text-align: justify">You can also read this news on BH NEWS: <a href="https://en.bitcoinhaber.net/microstrategy-increases-bitcoin-holdings-significantly" data-wpel-link="internal" rel="noopener noreferrer nofollow">MicroStrategy Increases Bitcoin Holdings Significantly</a><br></p>
<p style="text-align: justify">MicroStrategy, a renowned software firm led by Michael Saylor, has augmented its <a href="https://en.bitcoinhaber.net/bitcoin-trading-hits-new-highs-following-market-dynamics" data-wpel-link="internal" rel="noopener noreferrer nofollow">Bitcoin</a> assets with a notable purchase. The company recently acquired 18,300 Bitcoins at a cost of roughly $1.11 billion. This latest acquisition brings the corporation’s total Bitcoin holdings to approximately $9.45 billion, amassing a total of 244,800 Bitcoins as of September 2024.</p>
<h2 id="why-is-microstrategy-accumulating-bitcoins">Why Is MicroStrategy Accumulating Bitcoins?</h2>
<p style="text-align: justify">MicroStrategy’s strategy to accumulate Bitcoin aggressively positions it as the leading publicly traded company in terms of Bitcoin <a href="https://finance.coin-turk.com/" rel="noopener noreferrer nofollow" target="_blank" data-wpel-link="exclude">investment</a>. This relentless acquisition strategy commenced in 2020, steered by the belief in Bitcoin’s superiority as a value store compared to traditional currencies.</p>
<p style="text-align: justify">Company CEO Michael Saylor often highlights Bitcoin’s potential to safeguard against inflation and economic instability. He continues to advocate for the cryptocurrency’s long-term benefits, reinforcing the company’s commitment to its Bitcoin-focused investment approach.</p>
<h2 id="how-does-microstrategy-finance-these-purchases">How Does MicroStrategy Finance These Purchases?</h2>
<p style="text-align: justify">The recent acquisition was made possible through a mix of available cash reserves and proceeds from a $750 million bond issuance. This financial model is central to MicroStrategy’s strategy, allowing the company to use both its current assets and external financing to expand its Bitcoin portfolio.</p>
<h2 id="key-observations">Key Observations</h2>
<p style="text-align: justify">– MicroStrategy’s Bitcoin holdings represent about 1.3% of the total Bitcoin supply.<br> – The company previously purchased an additional 169 Bitcoins on August 1.<br> – Despite the acquisition, Bitcoin’s price experienced a slight decline post-announcement.</p>
<p style="text-align: justify">Interestingly, the market’s immediate reaction was a drop in Bitcoin’s price. Despite trading above $58,000, the price fell to $57,830 following <a href="https://newslinker.co" target="_blank" rel="noopener noreferrer nofollow" data-wpel-link="exclude">the news</a> of MicroStrategy’s acquisition. As of now, Bitcoin is trading at $57,834, reflecting the market’s volatility even amid significant purchases like this one.</p>
<h5><span style="font-weight:bold;font-size:16px">Continue Reading: </span> <a href="https://en.bitcoinhaber.net/microstrategy-increases-bitcoin-holdings-significantly" data-wpel-link="internal" rel="noopener noreferrer nofollow">MicroStrategy Increases Bitcoin Holdings Significantly</a></h5>

MicroStrategy Increases Bitcoin Holdings Significantly

Table of Contents

BH NEWS

Other articles published on Sep 13, 2024

CoinStats Announces Full Integration of TRON Blockchain

Warning: Doge2014 Presale Could Be a Scam – Stay Alert!

Best Meme Coins to Buy Now for Explosive 10x Gains in 2024 and Beyond

XRP Price Rallies 6% as Ripple Issues 90 New RLUSD Tokens

Pencil Protocol Partners with Babylon to Enhance DeFi Yield Farming

XRP Holder In Korea Makes Payment With XRP. Here’s how

Join our free newsletter for daily crypto updates!