MicroStrategy has made headlines again, and the company’s shares rose after announcing the purchase of 155 Bitcoins for $18 million. This solidified MicroStrategy’s position as the largest corporate Bitcoin holder.
New Purchase and MicroStrategy's Total Holdings
Founder and Chairman Michael Saylor revealed on X that the recent purchase of 155 Bitcoins for $18 million increases the company's total holdings to 628,946 BTC, acquired for approximately $46.09 billion at an average price of $73,288 per coin.
Market Reaction to Stock Purchase
Following the announcement, MicroStrategy shares soared to $409.42, up by $13.87 in the past 24 hours. Investors seem confident in the company’s long-term strategy, which has remained aggressive and consistent despite volatile market conditions.
Michael Saylor's Influence on the Cryptocurrency Market
Michael Saylor continues to be one of the most vocal proponents of cryptocurrency, describing Bitcoin as "digital gold" and an inflation hedge. He predicts that the price of Bitcoin could eventually reach $1 million per coin.
The recent acquisition of 155 Bitcoins for $18 million reaffirms MicroStrategy’s strategic approach. As the company's stock continues to soar, the market is closely watching their next moves.
