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Bitcoin at $116.7K: MicroStrategy Buys 430 BTC, Amdax Targets 1% of Supply

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by Giorgi Kostiuk

4 hours ago

The Bitcoin market is witnessing significant changes, including recent purchases by MicroStrategy and ambitious plans from Amdax to acquire a substantial portion of Bitcoin supply.

MicroStrategy's Purchase and Its Impact

MicroStrategy, led by Michael Saylor, purchased an additional 430 BTC for $51.4 million, increasing its total holdings to 629,376 BTC at an average purchase price of $119,666.

Amdax's Bitcoin Acquisition Goals

Dutch asset manager Amdax announced the creation of AMBTS B.V., which will be listed on Euronext Amsterdam with a goal to acquire 1% of all Bitcoin in circulation, worth over $24 billion.

Current Trends in the Bitcoin Market

In the last 24 hours, there have been $111.85 million in BTC liquidations, mostly in long positions. Bitcoin is holding at $116,724, seeing a 0.65% decline over the last day, while still maintaining a year-on-year increase of 96.13%.

Overall trends in the Bitcoin market illustrate a strong influence from institutional investors, and Amdax's plans for significant acquisition reaffirm the growing interest in cryptocurrencies.

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