In yet another move that assures the company’s commitment to Bitcoin, MicroStrategy has bought another $1.11 billion worth of BTC. Indeed, the Michael Saylor-led software intelligence firm has continued to embrace the accumulation of the leading cryptocurrency.
For years, Saylor has been an outspoken advocate of the asset class. That is clearly seen in how the company has made BTC accumulation one of its core tenants. Now, the firm holds a remarkable 244,800 BTC that was bought for more than $9.4 billion, according to a post on X (formerly Twitter).
Also Read: Bitcoin: Michael Saylor Says BTC Will Eventually Reach $13M
Michael Saylor’s MicroStrategy Buys Another 18,300 BTC
2024 has proven to be a vital year for the cryptocurrency market. Bitcoin has been a key story throughout the finance sector. It received the first crypto-based ETF in the United States at the start of the year. Just three months later it reached an all-time high of $73,000.
Despite its recent downturn, the asset has still proven to have immense value and staying power. Subsequently, the currency’s strongest defenders are finally being proven right. There may be none other as vehement in their advocacy of the asset class as Michael Saylor. That Bitcoin commitment was reinforced today when MicroStrategy purchased another $1.11 billion worth of BTC.
Source: CNBC
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The firm announced it had acquired another 18,300 BTC in its latest move. Altogether, they had paid $60,408 per BTC acquired. Moreover, they announced a BTC yield of 4.4% QTD and 17% YTD. The total holdings are now valued above $9 billion, with a purchase price of $38,585 per BTC.
Just this month, Saylor discussed his continued optimism for Bitcoin. Speaking to CNBC, he predicted that Bitcoin would reach a price of $13 million per BTC over the next 20 years. Additionally, he forecasted the token would grow to capture 7% of all global capital. Therefore, becoming a tentpole in global finance.
