Microstrategy, the largest corporate holder of Bitcoin, added to its stash by buying an additional 21,550 BTC worth 2.1 billion USDT from Dec 2 to 8 at an average price of 98,783 USDT per BTC.
The business intelligence firm has continued to pile up its Bitcoin holdings despite the crypto asset surpassing the 100,000 USDT mark and hitting a new all-time high of 103,679 USDT.
The company announced its new purchase in a financial statement revealing the average price of the 21,550 BTC acquired amongst other financial indicators.
“The Company announced that, during the period between December 2, 2024, and December 8, 2024, the Company acquired approximately 21,550 bitcoins for approximately 2.1 USDT billion in cash, at an average price of approximately 98,783 USDT per bitcoin, inclusive of fees and expenses.
The Bitcoin purchases were made using proceeds from the issuance and sale of Shares under the Sales Agreement.
As of December 8, 2024, the Company, together with its subsidiaries, held an aggregate of approximately 423,650 bitcoins, which were acquired at an aggregate purchase price of approximately 25.6 billion USDT and an average purchase price of approximately 60,324 USDT per bitcoin, inclusive of fees and expenses”, The financial statement read.
The company chairman Michael Saylor collaborated on the financial statement on X announcing the new acquisition by the company.
Acquisition to continue even if 1 BTC hits 1 million USDT
Michael Saylor in an interview with Yahoo Finance revealed that he would continue buying BTC even if it hits 1 million per coin.
- The information was shared on the Market Domination show which Saylor was invited to speak.
- Saylor intends to buy 1 billion USDT worth of Bitcoin a day if the crypto asset hits 1 million USDT a coin.
- Microstrategy dabbled into Bitcoin during the 2020 COVID-19 pandemic and has never looked back since.
The business intelligence firm has doubled down on its Bitcoin acquisition spree and now holds a staggering 423,650 $BTC acquired for $25.6 billion at $60,324 per bitcoin.
Other top US companies are also joining in the Bitcoin acquisition spree with Marathon Digital acquiring $1.1 billion worth of Bitcoin yesterday.
What to Know
- Bitcoin has not really reacted to the recent acquisitions of recent. The flagship cryptocurrency surged by less than 2% in the past week.
- The United States is the leading country by Bitcoin reserves owning up to 190,000 BTC of recent. Other countries like the UK, Ukraine, Bhutan, and China also own significant amounts of Bitcoin.