MicroStrategy Buys Bitcoin Again: $4.6 Billion Funds Make BTC Fly?

Bittime - MicroStrategy has made another splash by buying 51,780 Bitcoins worth $4.6 billion. What impact will this have on BTC price and their strategy going forward? Find out more in this article!

MicroStrategy, a software company led by Michael Saylor, is back in the spotlight after announcing the purchase of 51,780 new Bitcoins with a total value of $4.6 billion. This move further solidifies their position as the largest Bitcoin owner in the world, with total holdings reaching 331,200 BTC.

The Big Strategy Behind the Purchase

Since 2020, MicroStrategy has decided to make Bitcoin their main asset. Initially, the company bought $250 million worth of BTC to protect its books during the pandemic.

Now, their moves are getting more aggressive, acquiring Bitcoin at an average price of $88,627 per coin. According to a recent report, MicroStrategy's total acquisition value of $16.5 billion has now jumped to $29.65 billion thanks to the rising price of BTC.

Michael Saylor, Executive Chairman of MicroStrategy, announced this news via Twitter on November 18, 2024. With this latest BTC gain, the company managed to record a profit result of 20.4% this quarter (QTD) and 41.8% over the year (YTD).

Also read: Most Crazy Bitcoin Prediction: Break $3 Million per Coin by 2050 According to VanEck

Big Impact on the Bitcoin Market

The massive buying by MicroStrategy was one of the main factors that pushed Bitcoin price to an all-time high. The price of BTC recently breached $93,477, driven by positive sentiment in the market, including the victory of Donald Trump as a pro-crypto US President.

This sentiment was further strengthened by policy promises favorable to the blockchain industry, such as the creation of a strategic Bitcoin reserve.

MicroStrategy's move also created significant buying pressure in the market, outpacing inflows of global Bitcoin exchange-traded products (ETPs). Over the past week, the ETP recorded inflows of only 25,993 BTC, while MicroStrategy tripled them with an additional 51,780 BTC.

The Future of MicroStrategy and Bitcoin

MicroStrategy continues to show its commitment to Bitcoin with big plans to buy $42 billion worth of BTC in the next three years. Michael Saylor even predicts the price of Bitcoin will reach $13 million per coin in 21 years, signaling high confidence in the asset's long-term potential.

The company has also transformed from a software provider to a major player in the Bitcoin ecosystem, making BTC their strategic foundation. With more than 1% of the world's total Bitcoin supply now under MicroStrategy's control, their moves have greatly influenced global market dynamics.

Conclusion

MicroStrategy has once again proven its position as a pioneer in large-scale Bitcoin acquisitions. This $4.6 billion purchase not only strengthens the value of their assets but also has a huge influence on the price of Bitcoin in the market.

With an aggressive strategy and unusually bullish predictions, MicroStrategy's move could be an important determinant in Bitcoin's journey towards global adoption.

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