MicroStrategy Expands Bitcoin Holdings With Significant Purchase

According to Odaily, MicroStrategy has made a substantial investment in Bitcoin, as revealed by its founder Michael Saylor on the X platform. The company acquired 27,200 BTC at an approximate cost of $2.03 billion, with an average purchase price of $74,463 per Bitcoin. As of November 10, 2024, MicroStrategy's total Bitcoin holdings have reached 279,420 BTC. This strategic move reflects the company's ongoing commitment to Bitcoin as a key asset. Since the beginning of the year, Bitcoin has yielded a return of 26.4%, underscoring its performance in the cryptocurrency market. MicroStrategy's continued investment in Bitcoin highlights its confidence in the digital currency's potential for long-term growth. The company's significant holdings position it as a major player in the cryptocurrency space, with its investment strategy closely watched by industry observers and investors alike.