MicroStrategy It was announced that purchased The company purchased 18,300 Bitcoins at $1.11 Billion. This brings its total BTC assets to 244,800 BTC, which were acquired at $9.45 Billion.
MicroStrategy purchases an additional 18,300 #Bitcoin 11.1 billion dollars is $1.11 Billion. pic.twitter.com/qhMg5EOqUF
— Bitcoin Magazine (@BitcoinMagazine) September 13, 2024
Bitcoin Bull is the leader of business intelligence company. Michael SaylorSince 2020, has steadily been accumulating Bitcoins as part of their corporate strategy. MicroStrategy made its latest $1 billion purchase at an average Bitcoin price of $61,408.
According to Saylor. The company’s yield on Bitcoins is 17%. It has been able to capitalize on the appreciation of BTC by borrowing at low interest rate and expanding its holdings.
MicroStrategy has accumulated a Bitcoin hoard worth more than $15 billion at current prices. This is a huge benefit to shareholders. Stock prices have risen in parallel with the company’s Bitcoin accumulation.
MicroStrategy is compounding Bitcoin positions for the long-term despite rough market conditions. MicroStrategy views Bitcoin as an asset that can be used to protect against inflation, unlike cash.
MicroStrategy executes the largest ever speculative strike on fiat money by buying the hardiest currency for its Treasury. MicroStrategy has inspired other public companies to adopt Bitcoin treasury policy and acquire Bitcoin exposure in their balance sheets. MicroStrategy, however, remains the largest corporate Bitcoin owner in the entire world.
MicroStrategy, a Bitcoin-development company in the making, has shaped itself as an innovative Bitcoin firm that drives worldwide Bitcoin adoption.
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Source: bitcoinmagazine.com