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MicroStrategy Acquires 18,300 More Bitcoin

MicroStrategy Acquires 18,300 More Bitcoin

MicroStrategy has made another substantial investment in Bitcoin, acquiring an additional 18,300 BTC for approximately $1.11 billion at an average price of $60,408 per Bitcoin. This latest purchase boosts the company’s total Bitcoin holdings to 244,800 BTC as of September 12, 2024, purchased at an aggregate cost of $9.45 billion. The average price paid per Bitcoin stands at approximately $38,585.

In addition to its acquisition strategy, MicroStrategy reports a Bitcoin yield of 4.4% for the quarter-to-date (QTD) and 17.0% for the year-to-date (YTD), indicating the company’s ongoing success in maximizing returns from its substantial cryptocurrency holdings.

This latest investment further solidifies MicroStrategy’s position as one of the largest institutional holders of Bitcoin, continuing its strategy of using Bitcoin as a primary treasury reserve asset despite the volatility associated with the cryptocurrency market. The company’s aggressive stance on Bitcoin highlights its commitment to the long-term potential of digital assets amid ongoing debates around cryptocurrency regulation and adoption.

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