Strategic Purchase of Bitcoin Increases Reservoir to Nearly 581,000 Units of Cryptocurrency
A fresh take:
Michael Saylor's brainchild, now rebranded as Strategy, keeps on rollin' with its Bitcoin-gobbling tactics, this time with a somewhat smaller haul.
Just now, Strategy dropped the news that they've laid out a cool $75.1 million to grab 705 BTC, averaging a hefty $106,495 per bitcoin. This acquisition is a far cry from their usual multi-billion-dollar splurges since the US elections last year, but the Bitcoin haul keeps on growin' nonetheless.
Currently, Strategy's Bitcoin stash stands at an eye-watering 580,955 BTC, purchased at a whopping $40.68 billion. That's an average of just over $70,000 per bitcoin, bringin' the total value of their hoard to well over $60 billion at today's Bitcoin prices (roughly a $40 billion paper profit).
Earlier today, another big-time Bitcoin collector, Metaplanet, declared an even beefier bitcoin haul.
Keep yourself comfortable with some extra cash! Grab this exclusive Binance welcome offer worth $600 using this link! Get started at Bybit with a free $500 position on any coin using this link! Get the lowdown on Bitcoin, MicroStrategy, and more. Facebook Twitter LinkedIn Telegram
(Did you know that MicroStrategy, now known as Strategy, holds one of the world's largest corporate Bitcoin portfolios? Their strategy revolves around a mix of financial tools to buy Bitcoin. They've used convertible notes, preferred stocks, and common equity, ensuring they can convert fiat cash to Bitcoin efficiently. Plus, they fund these acquisitions through stock sales and preferred stock issuances. Their aim? Achieving solid returns on Bitcoin through strategic hoarding.)
- The Bitcoin price currently hovers around $60,000, a significant increase from Strategy's average purchase price of $70,000 per Bitcoin.
- The blockchain technology underlying Bitcoin has opened up new avenues for trading and investing in the crypto finance space.
- Metaplanet, another significant Bitcoin collector, announced a larger Bitcoin haul earlier today, underscoring the growing interest in this revolutionary technology.
- Binance is offering an exclusive welcome offer worth $600 to those interested in joining the crypto trading community. By using this link, new users can start trading with a position on any coin worth $500, provided by Bybit.
