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MicroStrategy buys another 15 thousand Bitcoins and reinforces growth strategy
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THE MicroStrategyknown for being one of the largest corporate holders of Bitcoin in the world, announced the acquisition of more 15,350 Bitcoins. The company paid around US$1.6 billion to make the purchase, which increased its reserves to 439 thousand Bitcoinscurrently valued at more than US$46 billion.
Michael Saylor, co-founder and president of the company, shared the news on his X account this Monday, December 16th.
The most recent purchase occurred with an average price of $100,386 per Bitcoinincluding fees and expenses. This value considerably exceeds the average cost of $61,725 that the company paid in previous acquisitions.
Even so, MicroStrategy remains confident in the role of Bitcoin as a treasury reserve assetbetting on its long-term appreciation.
MicroStrategy: sale of shares to finance acquisition
To finance the purchase, the company sold 3.88 million shares during the period from December 9th to 15th, raising US$1.5 billion.
This strategy reflects MicroStrategy’s commitment to increasing its exposure to Bitcoin regardless of market conditions. Currently, the company holds approximately 2.1% of all Bitcoin supplylimited to 21 million units.
Additionally, between December 2 and 8, MicroStrategy acquired additional 21,550 Bitcoins put US$2.1 billionpaying an average price of US$98,783 per unit. At the beginning of the same month, the company had already acquired 15,400 Bitcoinsdisbursing approximately US$1.5 billion.
Aggressive acquisition strategies have yielded positive results for MicroStrategy. The company reported a return of 46.4% in the quarter and 72.4% year to date with your Bitcoin reserves.
The appreciation of cryptocurrencies also boosted MicroStrategy shares. Recently, the company was included in the Nasdaq-100 indexmade up of the largest companies in the technology sector. As a result, its shares accumulate an increase of 519% in 2023consolidating MicroStrategy as an investment proxy in the Bitcoin market.
MicroStrategy’s decision to expand its reserves even as Bitcoin surpasses US$ 106 thousand reinforces your confidence in cryptocurrency.
MicroStrategy buys another 15 thousand Bitcoins and reinforces growth strategy
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MicroStrategy buys another 15 thousand Bitcoins and reinforces growth strategy
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MicroStrategy buys another 15 thousand Bitcoins and reinforces growth strategy
