In a crucial development in the crypto world, MicroStrategy acquired 7,420 BTC worth $458.2 million in 6 days.
New BTC Purchases
According to Lookonchain, MicroStrategy continues to invest confidently in Bitcoin. In this recent acquisition, the company added 7,420 BTC to its holdings, worth $458.2 million. This acquisition brings the company's total Bitcoin holdings to 252,220 BTC, valued at $15.85 billion.
Purchases Since 2020
MicroStrategy's Bitcoin investment journey began in August 2020 with the purchase of 21,454 BTC. Despite market volatility, the company has steadily increased its holdings, reaching 252,220 BTC to date. The total investment amounts to $9.9 billion. In August this year, the company also acquired 169 BTC and announced a plan to invest an additional $2 billion.
Institutional Confidence
MicroStrategy's CEO Michael Saylor consistently expresses confidence in Bitcoin, viewing it as a hedge against inflation. Lookonchain highlights that despite an uncertain future, MicroStrategy's investments reflect a strong institutional belief in the potential of Bitcoin.
With continuous Bitcoin investments, MicroStrategy strengthens its status as one of the largest corporate holders of cryptocurrency, demonstrating significant growth in unrealized profit to $5.95 billion.
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