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Reading: MicroStrategy Invests $458.2 Million in Additional Bitcoin
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COINTURK NEWS > Bitcoin (BTC) > MicroStrategy Invests $458.2 Million in Additional Bitcoin
Bitcoin (BTC)

MicroStrategy Invests $458.2 Million in Additional Bitcoin

In Brief

  • MicroStrategy invests $458.2 million in Bitcoin, increasing its holdings significantly.

  • The company now possesses a total of 252,220 Bitcoins valued at over $15.8 billion.

  • Marathon Digital Holdings follows as the second-largest institutional Bitcoin holder.

Ömer Ergin
Ömer Ergin 8 months ago
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MicroStrategy, the world’s largest institutional Bitcoin $103,943 investor, has made an additional purchase of Bitcoin worth $458.2 million.

Contents
7,420 Bitcoins Added to the PortfolioTotal Bitcoin Holdings Reach 252,220Marathon Digital Holdings Ranks Second

7,420 Bitcoins Added to the Portfolio

The company acquired 7,420 Bitcoins at an average price of approximately $61,750. This information was shared by Michael Saylor, the founder and chairman of the company.

Michael Saylor stated, “MicroStrategy has achieved a Bitcoin return of 5.1% quarter-to-date and 17.8% year-to-date.”

Total Bitcoin Holdings Reach 252,220

With this latest acquisition, MicroStrategy’s total Bitcoin holdings have increased to 252,220. The company has purchased a total of $9.9 billion worth of Bitcoin at an average price of approximately $39,266.

Based on Bitcoin’s current trading price of $62,945, the value of MicroStrategy’s Bitcoin holdings exceeds $15.8 billion. The company owns more than 1% of Bitcoin’s total supply and holds the position of the largest institutional investor in the cryptocurrency space.

Marathon Digital Holdings Ranks Second

Marathon Digital Holdings, which boasts the second-largest institutional Bitcoin treasury, holds approximately 26,200 Bitcoins valued at about $1.6 billion. This amount is significantly lower than the number of Bitcoins owned by MicroStrategy.

MicroStrategy’s aggressive Bitcoin purchasing strategy has positively affected its stock prices, with MSTR shares increasing by over 360% in the past 12 months.

In July, the company announced a 10-for-1 stock split for Class A and Class B common shares. This move aims to make MicroStrategy shares more accessible for investors and employees.

Since hitting a low of approximately $52,550 in September 2024, Bitcoin has gained nearly 20% in value. MicroStrategy’s strong commitment to Bitcoin and its large-scale acquisitions are drawing attention in the cryptocurrency market.

You can follow our news on Telegram, Facebook, Twitter & Coinmarketcap
Disclaimer: The information contained in this article does not constitute investment advice. Investors should be aware that cryptocurrencies carry high volatility and therefore risk, and should conduct their own research.

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Ömer Ergin 21 September, 2024 - 8:17 pm 21 September, 2024 - 8:17 pm
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