As a seasoned crypto investor who has witnessed the rise and fall of several digital assets, I must admit that MicroStrategy’s latest move to buy another $2 billion worth of Bitcoin is nothing short of impressive. Having followed their journey since their initial foray into Bitcoin in mid-2020, it’s fascinating to see them amass such a substantial stash, now standing at 279,420 BTC.
MicroStrategy has re-entered the bitcoin buying sector, planning to invest an additional $2 billion to acquire over 27,000 units of Bitcoin.
It’s important to mention that, due to Bitcoin’s recent surge in value, the company started by Michael Saylor is currently showing a paper profit of approximately $11 billion on its holdings.
As an analyst, I’d rephrase the statement as follows:
— Michael Saylor (@saylor) November 11, 2024
The previous CEO recently disclosed a new Bitcoin acquisition on X, signifying that the accumulated amount now stands at 279,420 Bitcoins, with an average cost of about $42,692 per Bitcoin. This translates to a total expenditure by MicroStrategy of roughly $11.9 billion.
Considering Bitcoin’s current value at approximately $82,000, it implies that the publicly traded company’s Bitcoin holdings have a total worth exceeding $22.9 billion. Therefore, they are holding an estimated paper profit of around $11 billion.
As a crypto investor, I’ve been following MicroStrategy’s Bitcoin (BTC) accumulation strategy since mid-2020, and it’s impressive to see their continuous acquisitions without any signs of selling in the near future. Their latest move is a plan to invest another $42 billion over the next three years, which suggests they aim to significantly increase their BTC holdings on their balance sheet.
Recently, the value of the cryptocurrency has experienced a significant surge. This growth was particularly noticeable following Donald Trump’s decisive win in the U.S. presidential election on November 3rd. Initially, its price hovered around $70,000, but within a week or so, it climbed more than 18%, reaching above $82,000, setting a new record high.
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2024-11-11 16:30