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MicroStrategy Announces Shocking $2 Billion Bitcoin Purchase

source-logo  u.today 11 November 2024 09:55, UTC

Virginia-based business intelligence firm MicroStrategy has purchased 27,200 coins for $2.03 billion, according to its Monday press release.

The firm purchases its latest batch of Bitcoins at an average price of $74,463.

After its most recent purchase, MicroStrategy's total holdings have now swelled to almost $23 billion. The firm's average purchase price is now approaching the $43,000 mark.

Earlier today, the price of Bitcoin hit yet another record high of $82,379 after surging by nearly 19% within just one week.

The company recently announced that it intended to raise a total of $42 billion in the long term in order to finance its Bitcoin purchases.

As reported by U.Today, MicroStrategy co-founder Michael Saylor recently predicted that nation-states might end up adopting Bitcoin as their treasury asset.

u.today