Further raising their Bitcoin reserves, the publicly traded MicroStrategy firm has now purchased an additional 19,452 Bitcoins worth around $1,026 billion. Company CEO Michael Saylor broke the news on Twitter and said that MicroStrategy had bought the asset for $52,765 per bitcoin.
As of 24 February, the firm owns approximately 90,531 bitcoins to date, making it the largest institutional investor in the asset. According to BitcoinTreasuries, Tesla, Galaxy Digital and Square rank second, third and fourth in the list of corporate purchasers of the asset.
In a quote, CEO Michael Saylor said:
“The company remains focused on our two corporate strategies of growing our enterprise analytics software business and acquiring and holding bitcoin. “
He also added that Bitcoin could serve as a “reliable store of value” and revealed that the company would continue to acquire more Bitcoin.
On 19 February, MicroStrategy announced the completion of a $1.05 billion debt offering, allowing the firm to reinvest in Bitcoin at the time. This occurred after the company decided to offer $600 million of convertible senior notes to institutional purchasers, which would allow the firm to use the nett proceeds from the sale of the notes to purchase additional bitcoins as intended.
It will be interesting to see if the investment of the firm could lead to fresh price action on the Bitcoin market. Especially since, at press time, BTC traded at $49,856.84 and was down 3.5 percent in the last hour.
210 Interactions, 2 today
The academic college, which has about 11,000 students, stated that the inclusion of crypto payments was part of a campaign Read more
Is Bitcoin nearing its peak? It's unlikely. Many on-chain measurements revealed that, although Bitcoin was highly bullish, it had not Read more
The crypto market has gained traction as a result of low interest rates and fiscal stimulus, according to a Fidelity Read more
Paying with cryptocurrency does not guarantee your safety. Most of the criticisms levelled at cryptocurrencies is that its difficult-to-trace existence Read more
Bitcoin was expected to remain above the $55,800-support, a level that coincided with its 200-SMA. BitTorrent Token was projected to Read more
For the first time, the total market value of all cryptocurrencies exceeds $2 trillion. According to Goingecko numbers, the total Read more
Recently, blockchain expert and influencer Ben Armstrong mentioned Bitcoin in a video posted to his highly popular YouTube channel “BitBoy Read more
Binance Coin predicted that fresher record thresholds will be set in the coming days due to solid technicals. Following a Read more
In the cryptocurrency industry, excessive uncertainty has had a long-term effect on the price of the digital commodity. This uncertainty Read more
Ethereum, the second-largest cryptocurrency, has entered a volatile zone, which could drive the digital asset's price even higher. In the Read more
Bitcoin faced some selling pressure just above the $59k mark, leading it to slip to $56,600. The majority of the Read more
The world's most expensive cryptocurrency fell 4.1 percent, bringing several other coins down with it, sending the economy into the Read more