- When it comes to public companies, MicroStrategy still has the greatest Bitcoin ownership.
- The company’s total Bitcoin holdings reached 386,700 after the latest purchase.
The Bitcoin holdings of MicroStrategy have surged once again. The company’s total Bitcoin holdings reached 386,700 after an announcement that it had acquired 55,500 BTC for $5.4 billion.
With the purchase of 55,500 BTC from November 18–24 at an average price of $97,862 per bitcoin, MicroStrategy increased its BTC yield to 35.2% QTD and 59.3% YTD, as reported in a press statement.
Banking on Bitcoin
With an average price of $56,761 per bitcoin, the business paid $21.9 billion to buy 386,700 BTC, which it currently possesses. When it comes to public companies, MicroStrategy still has the greatest Bitcoin ownership.
Coincidentally, last week MARA Holdings, the public firm owning the second-largest bitcoin holdings, said that it had acquired 5,771 BTC at a price of $95,554 per bitcoin. Nevertheless, with 33,875 BTC to MicroStrategy’s 386,700 BTC, the Bitcoin miner is still well behind.
After Satoshi Nakamoto, Binance, and BlackRock, the software firm ranks as the fourth-largest Bitcoin holder. Notably, they began hoarding BTC in August of 2020, when Michael Saylor, co-founder of the business, put forward the “Bitcoin Strategy.”
The company’s stock, MSTR, has been one of the best-performing assets since 2020, thanks to this Bitcoin Strategy. The latest news of a Bitcoin purchase has once again caused the MSTR price to respond strongly. In light of MicroStrategy’s latest acquisition, Bitcoin price predictions are in the spotlight as the flagship cryptocurrency approaches the $100,000 mark.
Bitcoin, according to analysts, must maintain a price over $94,000. Loss of that level and subsequent breakdown of lower timeframe impulsive structure would signal a change in momentum and, maybe, a greater correction if Bitcoin price was to go below it.
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