The post MicroStrategy Buys 5,262 BTC for $561 Million appeared first on Coinpedia Fintech News
MicroStrategy, the biggest corporate holder of Bitcoin, has increased its Bitcoin reserves once again. The company recently purchased an additional 5,262 BTC for $561 million, at an average price of $106,662 per Bitcoin.
This latest acquisition brings MicroStrategy’s total holdings to 444,262 BTC, acquired for approximately $27.7 billion at an average price of $62,257 per Bitcoin.
MicroStrategy Bitcoin Holdings
The company has consistently shown its commitment to Bitcoin. Back in December 2020, during the bull market, MicroStrategy made its largest single purchase of 29,646 BTC when Bitcoin was priced at around $21,000.
In November, MicroStrategy made some hefty Bitcoin buying. First on Nov 10, it bought 27,200 BTC at a price of $74K each. A week later, it added 51,780 BTC, and on November 24, it made its largest buy ever, getting 55,500 BTC at $97,000 each and so on.
Fast forward to December 23, 2024, the company made yet another major purchase, adding 5262 BTC to its holdings at an average price of $62,257 per coin. These actions show MicroStrategy’s steady confidence in Bitcoin as a valuable asset for the future.
MicroStrategy’s Influence On Other Companies
MicroStrategy’s approach to building a Bitcoin treasury has encouraged other companies to adopt similar strategies. Following MicroStrategy’s lead, Metaplanet is also taking bold steps to grow its Bitcoin holdings, further highlighting the growing interest among institutions in Bitcoin’s potential.
Although, Michael Saylor pitched Amazon’s Jeff Bezos to invest $100 million in Bitcoin instead of spending heavily on his wedding. Bezos is set to marry Lauren Sanchez on Dec. 28 in Aspen, Colorado, with the event reportedly costing $600 million.
Recently, Amazon shareholders also proposed that the company invest 5% of its assets in Bitcoin for diversification.
Bitcoin Price Targets $13 Million
After MicroStrategy’s latest Bitcoin purchase, Bitcoin’s price rose slightly to around $96000, despite falling 8% over the past week. Analysts believe that corporate adoption, like MicroStrategy’s, could boost Bitcoin’s future growth.
Michael Saylor earlier predicted the crypto market could grow from $2 trillion today to $280 trillion by 2045. He also suggested Bitcoin’s value could reach $13 million per coin, showing his strong confidence in its potential.