MicroStrategy Increases Bitcoin Holdings to 226,331 BTC with New $786M Acquisition
MicroStrategy, a US-based Nasdaq-listed business intelligence firm, is a well-known company in the Bitcoin market due to its substantial Bitcoin holdings. This company is popular in the crypto space for its big Bitcoin balance.
On 20 June 2024, Micheal Saylor, the former CEO of Microstrategy, shared that MicroStrategy had bought an additional 11,931 bitcoins for approximately $786 million. The company used proceeds from convertible notes and excess cash, paying nearly $65,883 per bitcoin.
At this present date, MicroStrategy holds a total of 226,331 bitcoins. These were acquired for around $8.33 billion, at an average price of $36,798 per bitcoin.
With this Bitcoin holding, Microstrategy has an unrealised profit of $6.36 billion.
The former Microstrategy CEO always remain active on X (formerly Twitter) to share his daily thoughts & views on Bitcoin (BTC). He suggests people invest time in studying Bitcoin because it costs zero $ & it helps people to make more money than what people earn from spending time usual salary money.
Bitcoin price
The current trade price of Bitcoin (BTC) is $64,977 & this trade price is -7.5% down over the 7 days.
Despite the bearish sentiments in the crypto space, popular Crypto analyst Titan of Crypto shared his analysis & said that Bitcoin is currently holding a key level where we can see that Bitcoin’s next target ranges between $96k to $110k.
In the present time, the majority of the Bitcoin spot ETF buyers trying to sell their holdings, as currently no bull factor favour sudden pump possibilities.
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