Bitcoin

<p>In another crucial development in the crypto world, MicroStrategy has acquired 7,420 more $BTC within 6 days. As per Lookonchain, a prominent on-chain analytics provider, this acquisition of $458.2M worth of <a href="https://blockchainreporter.net/price-prediction/bitcoin-price-prediction/" rel="noopener noreferrer nofollow">Bitcoin</a> highlights the platform’s consistent confidence in the chief crypto token for long-term investment, further fortifying its status among the biggest corporate crypto holders.</p><h2 id="header-0">MicroStrategy Buys 7,420 $BTC Raises Its Unrealized Profit to $5.95B</h2><p>In a new X post, Lookonchain offered insights into this endeavor. It mentioned that the current Bitcoin holdings of MicroStrategy stand at nearly 252,220 $BTC with a value of $15.85B. The average acquisition of the platform accounts for up to $39,266 for each Bitcoin. This signifies that MicroStrategy has already collected a substantial amount in terms of unrealized profit.</p><p>Hence, its profit has reached the $5.95B mark. This huge profit margin displays the efficiency of the aggressive $BTC investment strategy of MicroStrategy which started in 2020’s August. At that time, the platform initially surprised the financial sector by buying 21,454 $BTC.</p><p>During the last 4 years, the Bitcoin investments of MicroStrategy have expanded to a great extent. As of the conclusion of the latest purchase of the company, it has expended $9.9B on $BTC. In this respect, it has been gradually growing its holdings simultaneous to the price fluctuation of cryptocurrency. In August this year, MicroStrategy reportedly <a href="https://blockchainreporter.net/microstrategy-buys-169-more-bitcoins-plans-2b-additional-investment/" rel="noopener noreferrer nofollow">acquired</a> 169 while affirming a plan to buy $2B more in Bitcoin.</p><h2 id="header-1">The Aggressive Bitcoin Investments by MicroStrategy Signifies Growing Institutional Confidence</h2><p>Irrespective of the market volatility, Michael Saylor (the CEO of MicroStrategy) has shown steadfastness concerning his confidence in Bitcoin. He thinks that Bitcoin denotes a superior value storage vehicle that offers a hedge to confront inflation. <a href="https://lookonchain.com/" rel="noopener noreferrer nofollow">Lookonchain</a> asserted that, although the future development remains uncertain, MicroStrategy’s continued Bitcoin investments indicate a resilient institutional belief in the potential of Bitcoin.</p>

MicroStrategy Purchases 7,420 $BTC in 6 Days, Touches $5.95B Profit

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