MicroStrategy, led by Michael Saylor, continues its aggressive Bitcoin buying strategy, significantly increasing its cryptocurrency reserves.
Increasing BTC Reserves
According to disclosure documents, MicroStrategy recently purchased 51,780 BTC for $4.6 billion, doubling its previous acquisition disclosed last week. The company now holds 331,200 BTC.
Financial Aspects of the Purchase
The average purchase price was $88,627 per coin, less than 5% below BTC’s all-time high of $93,477. With this latest acquisition on November 18, the total spent on Bitcoin strategy reached $16.5 billion.
Other Companies Follow Suit
MicroStrategy remains the largest corporate holder of BTC. Companies like Semler Scientific and Genius Group are also beginning to include Bitcoin in their balance sheets, inspired by MicroStrategy's strategy.
MicroStrategy's strategy of accumulating Bitcoin continues to influence other companies, underscoring the importance of cryptocurrency as a strategic asset.
