Continuing the company’s commitment to the leading cryptocurrency, Microstrategy has purchased another 27,200 Bitcoin, worth a remarkable $2.03 billion. Indeed, the company CEO Michael Saylor took to X (formerly Twitter) to announce the purchase and continued growth to the firm’s BTC acquisition strategy.
The decision arrived following Bitcoin’s unprecedented surge over the weekend. Indeed, the leading crypto skyrocketed to an $82,000 all-time high. Moreover, it is the third time that the asset has set record marks in 2024 alone. With the price expected to rise continually, it is certainly not expected to be the last.
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MicroStrategy Buys $2B in Bitcoin as BTC Investment Continues to Pay Off Big
2024 has continued to be the most important year in Bitcoin’s history. The industry leader had become the first crypto-based ETF in the United States and has set a host of price records throughout the last ten months. That was magnified with the 2024 election results, as Donald Trump became the first pro-crypto US President.
Yet Michael Saylor has remained one of Bitcon’s loudest advocates long before its 2024 success. And even as it reaches new record prices, Saylor’s MicroStrategy has not ceased buying, as it has officially purchased another $2 billion in Bitcoin to start the week.
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Amid the asset’s surging value, the business intelligence company has seen its BTC holdings surpass $20 billion in value. That took place as soon as the token reached a $80,000 price for the first time this month. Additionally, Saylor Tracker shows that the company’s Bitcoin investment strategy has reaped a 104% return on investment.
Data shows that the company has purchased Bitcoin 42 times, at an average cost of $39,292. That is remarkable considering the cost of the leading cryptocurrency presently. Moreover, there are expectations that the value will only get larger. Indeed, some are speculating BTC could exceed $100,000 before Trump is even inaugurated into office in 2025.
