Bitcoin

<p style="text-align: justify">You can also read this news on BH NEWS: <a href="https://en.bitcoinhaber.net/microstrategy-bolsters-its-bitcoin-treasury-with-new-purchase" rel="noopener noreferrer nofollow">MicroStrategy Bolsters Its Bitcoin Treasury with New Purchase</a><br></p>
<p style="text-align: justify">MicroStrategy, the leading corporate holder of <a href="https://en.bitcoinhaber.net/bitcoin-attracts-major-institutional-investments-as-holdings-surge" rel="noopener noreferrer nofollow">Bitcoin</a>, has fortified its investment in the <a href="https://en.bitcoinhaber.net/uk-researchers-probe-intellectual-property-concerns-in-the-metaverse" rel="noopener noreferrer nofollow">cryptocurrency</a> by acquiring an additional 9,245 <a href="https://en.bitcoinhaber.net/bitcoins-key-resistance-at-52400-a-gateway-to-gain" rel="noopener noreferrer nofollow">BTC</a>. Michael Saylor, the company’s Founder and Chairman, made the announcement, indicating that the purchase occurred between March 11 and March 18, 2024. The acquisition, which amounted to roughly $623 million, was funded through convertible notes and surplus cash flow, averaging a cost of $67,382 per Bitcoin.</p>
<h2 id="microstrategy-s-growing-bitcoin-portfolio">MicroStrategy’s Growing Bitcoin Portfolio</h2>
<p style="text-align: justify">The recent investment has expanded MicroStrategy’s Bitcoin holdings to a staggering total of 214,246 BTC, valued at about $7.53 billion. The company’s average spending on these assets stands at $35,160 per Bitcoin, showcasing a significant commitment to the cryptocurrency as an investment vehicle.</p>
<h2 id="bitcoin-s-price-faces-downward-pressure">Bitcoin’s Price Faces Downward Pressure</h2>
<p style="text-align: justify">Bitcoin, meanwhile, has witnessed a decline in value after peaking at an all-time high of $73,750 on March 14. Since this zenith, the prominent digital currency has experienced a 14% drop and is currently changing hands at $63,270, which is a 7.03% decrease within the past day.</p>
<p style="text-align: justify">Financial analysts caution about potential market instability in light of the upcoming Federal Reserve’s interest rate decision on March 20, predicting possible erratic price fluctuations. While some consider the $63,000 mark a potential floor, expecting a rebound post-consolidation, others speculate that the bottom price may dip below $60,000.</p>
<p style="text-align: justify">In conclusion, while MicroStrategy continues to increase its Bitcoin holdings, the market outlook remains uncertain with analysts divided on the cryptocurrency’s short-term price trajectory.</p>
<h5><span style="font-weight:bold;font-size:16px">The post first appeared on BH NEWS: </span> <a href="https://en.bitcoinhaber.net/microstrategy-bolsters-its-bitcoin-treasury-with-new-purchase" rel="noopener noreferrer nofollow">MicroStrategy Bolsters Its Bitcoin Treasury with New Purchase</a></h5>

MicroStrategy Bolsters Its Bitcoin Treasury with New Purchase

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