In a bold move underscoring its steadfast commitment to Bitcoin, MicroStrategy has acquired an additional $1.11 billion worth of BTC. Led by Michael Saylor, the software intelligence firm continues to integrate Bitcoin accumulation into its core strategy, reinforcing its position as a significant player in the cryptocurrency sector.
MicroStrategy’s Expanding Bitcoin Holdings
MicroStrategy’s latest acquisition includes 18,300 BTC purchased at an average price of $60,408 per BTC. This latest purchase brings the company’s total Bitcoin holdings to an impressive 244,800 BTC, which were acquired at an aggregate cost exceeding $9.4 billion. The total value of MicroStrategy’s Bitcoin holdings now surpasses $9 billion, with an average purchase price of $38,585 per BTC.
Bitcoin’s 2024 Milestones
2024 has been a landmark year for Bitcoin, marked by several significant events:
- Introduction of the First U.S. Bitcoin ETF: At the beginning of the year, the cryptocurrency market witnessed the launch of its first Bitcoin-based exchange-traded fund in the United States.
- Record High: Bitcoin reached an all-time high of $73,000 just three months later, demonstrating its substantial market impact.
Despite recent price corrections, Bitcoin’s resilience and inherent value continue to be affirmed. This year has highlighted Bitcoin’s staying power, aligning with the predictions of its most fervent advocates.
Saylor’s Long-Term Bitcoin Outlook
Michael Saylor remains a vocal proponent of Bitcoin’s future. In a recent CNBC interview, Saylor forecasted a potential price of $13 million per BTC over the next 20 years. He also predicted that Bitcoin could capture 7% of global capital, positioning it as a cornerstone of global finance.
MicroStrategy’s latest investment is a testament to its ongoing belief in Bitcoin’s long-term value and potential.