MicroStrategy’s Largest Bitcoin Order Since 2021: Purchases Additional $1.1 Billion
MicroStrategy acquired 18,300 Bitcoin for approximately $1.11 billion, marking its largest purchase in over three years. This acquisition increases the company's total Bitcoin holdings to around 244,800 BTC, valued at about $14 billion, representing roughly 1% of all Bitcoin ever issued. The total purchase price for these holdings is about $9.45 billion, with an average cost of $38,585 per Bitcoin. The acquisition was financed through the issuance and sale of common shares. Co-founder Michael Saylor advocates for Bitcoin as a superior store of value and predicts it could reach $13 million by 2045. MicroStrategy's stock has more than doubled this year, outperforming Bitcoin's 40% increase. As of now, Bitcoin trades at $58,820, facing resistance at the 200-day exponential moving average at $59,775.
