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Crypto News > Blog > News > Bitcoin > MicroStrategy buys Bitcoin and its reserves reach 439K BTC – Crypto
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MicroStrategy buys Bitcoin and its reserves reach 439K BTC – Crypto

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Last updated: 2024/12/16 at 1:01 PM
Crypto Published December 16, 2024
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MicroStrategy buys Bitcoin and its reserves reach 439K BTC
 – Crypto
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MicroStrategy Profits Continue to Rise Thanks to Bitcoin RelatedCrypto Keynote USA

MicroStrategy, the popular company of BTC evangelist Michael Saylor, reported a new purchase of Bitcoin and its reserves reach 439,000 tokens. This is a disbursement of $1.5 billion dollars by the business intelligence software developer.

It is important to highlight that the firm’s new injection occurs in an enormously positive context for the pioneering Cryptocurrency. A week ago, the market suffered a strong shock, but as of Wednesday, luck changed for the better. Since that date, the price of BTC entered a strong streak that allowed it to set all-time highs this Monday at $106,400 per coin.

In any case, the company reported this Monday that the new purchase for $1.5 billion allowed it to add 15,350 bitcoins to its reserves. This is the sixth massive purchase of cryptocurrencies in a short period of time. Meanwhile, the acquisition transaction is the first since the firm became part of the Nasdaq 100.

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Furthermore, the details reveal that the average purchase price for each BTC was $100,386. With this purchase of Bitcoin by MicroStrategy, and adding the most recent ones, the company is rapidly approaching half a million coins.

MicroStrategy buys Bitcoin and its reserves reach 439K BTC.MicroStrategy completes a new massive purchase of Bitcoin this December 16. Source: SaylorTracker/X

MicroStrategy Profits Continue to Rise Thanks to Bitcoin

MicroStrategy’s investment in its 439,000 bitcoins is equivalent to $27.1 billion. This translates into an average purchase of $61,725 ​​for each coin. Thanks to the aggressive purchase of BTC, Saylor’s company now accounts for 2% of the global Bitcoin supply and has established itself as the largest corporate holder in the world.

Having 2% of the global supply of the leading cryptocurrency does not make MicroStrategy take its foot off the accelerator. As already mentioned, during the last few weeks the board announced massive new purchases that caused a dramatic increase in BTC reserves.

The company’s most recent BTC purchase occurred exactly one week ago, with the acquisition of 21,550 bitcoins. On that occasion, the company spent a total of $2.1 billion dollars. The capital for these massive purchases is raised through the constant issuance of debt by the company.

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It is worth mentioning that these strong purchases are just a small part of what the firm hopes to inject into BTC. In the next 3 years, the company plans to allocate $42 billion in the purchase of BTC. MicroStrategy’s Bitcoin pattern becomes one of the most powerful elements driving the company since 2020.

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