CDS Crypto News MicroStrategy Makes History with $5.4 Billion Largest Bitcoin Acquisition
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MicroStrategy Makes History with $5.4 Billion Largest Bitcoin Acquisition

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Microstrategy Makes History With $5.4 Billion Largest Bitcoin Acquisition

MicroStrategy Breaks Records with Largest Bitcoin Acquisition Yet

Microstrategy Breaks Records With Largest Bitcoin Acquisition Yet

As the firm filled off its corporate coffers for the third time this month, MicroStrategy announced a $5.4 billion Bitcoin acquisition on Monday, increasing its total holdings to 386,700 BTC, or $37.6 billion. In terms of the total amount of Bitcoin and the value in US dollars, it marks the firm’s largest-ever disclosure of a Bitcoin purchase. The recent buying spree, which lasted for a week, was MicroStrategy’s biggest Bitcoin acquisition since the Tysons Corner, Virginia-based company began hoarding cryptocurrency in August 2020 under Executive Chairman Michael Saylor’s direction.

Bitcoin Boom Drives MicroStrategy Stock 500% Higher in 2024

According to a filing by MicroStrategy, the $5.4 billion in Bitcoin was bought with the money raised from the sale of its shares and convertible note issuance. The business reported that it had acquired about 55,500 Bitcoin with cash alone, averaging about $97,862 per Bitcoin bought.

Prior to Monday’s opening bell, MicroStrategy’s stock price had risen 4% during pre-market trading, reaching $439. However, shortly after, when investors processed the Bitcoin-buying company’s most recent acquisition, MicroStrategy’s stock price dropped 1% to $418. As the so-called Bitcoin treasury company’s BTC acquisitions have advanced at a record pace, MicroStrategy’s shares have risen 80% in the last month. MicroStrategy’s stock has risen 500% so far this year as the price of Bitcoin has set a new milestone.

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Microstrategy Makes History With $5.4 Billion Largest Bitcoin Acquisition 279999
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lectertodd

Lectertodd is 27 years old. She graduated from Çankaya University, Department of Psychology, in 2021. She actively works as a writer, translator, and editor for various websites. Moreover, she loves reading, researching, and learning new things.

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