The post MicroStrategy’s Bitcoin Holdings Hit $30.8 Billion With Largest-Ever 51,780 BTC Buy appeared first on Coinpedia Fintech News
Right now, the Bitcoin price sits above the $93,000 level. And, the Bitcoin market is slowly climbing upwards. In the last 24 hours alone, the market has seen a rise of 1.3%.
At a time when Bitcoin investors are witnessing consistent growth in the value of their investments, MicoStrategy, the public company with the highest BTC holdings, has once again grabbed headlines for its recent purchase of 51,780 BTC – the largest BTC purchase the company has ever made.
The total BTC holdings of MicoStrategy has now grown to 331,200 BTC. Curious to know about MicoStrategy’s Bitcoin journey? Here is what you should know about the big moves that MicoStrategy have even made in the Bitcoin market. Dive in!
MicoStrategy’s Latest Record Purchase
On November 18, MicoStrategy purchased at least 51,780 BTC at an average price of $88,627 each. The company spent at least $4.6 billion for the purchase. With the recent purchase, the total BTC holdings of MicoStrategy has soared to at least 331,200 BTC , worth at least $30,837,038,400.
Interestingly, the November 18 purchase is the largest purchase the company has ever made. At the start of November 18, the price of Bitcoin stood at $89,831.11. Since then, it has surged by at least 3.52%.
MicoStrategy’s Top Bitcoin Buys and Their Market Effects
It was on August 11, 2020 that MicoStrategy entered the BTC market for the first time. The purchase of 21,454 BTC tokens on that day marked the company’s first foray. The purchase made no significant impact on the market that day. Moreover, at the time of close, the BTC price declined from $11,682 to $11,579.
However, just four months after the first purchase, on December 21, 2020, the company made another massive purchase of 29,646 BTC tokens. Though on that day the Bitcoin price slightly jumped from $23,518 to $23,795, the event failed to create any serious impact on the market.
The next big purchase occurred after Bitcoin had reached its $50,000 milestone. On February 24, 2021, MicroStrategy purchased at least 19,452 BTC tokens for around $1 billion. Unfortunately, within 24 hours after the purchase, the Bitcoin market dropped by nearly 3.5%.
The victory of Republican leader Donald Trump in the US presidential election against Democratic leader Kamala Harris positively influenced the entire crypto market. Since November 5, BTC has surged by over 36.83%.
Between October 31 and November 10, at the time the price of BTC was oscillating between $72,000 and $80,000, MicoStrategy purchased over 27,200 BTC tokens. During the period, the market surged around 11.14%.
In conclusion, MicoStrategy’s Bitcoin acquisitions highlight its faith in the cryptocurrency’s potential.