Software company MicroStrategy today announced another massive Bitcoin buy—the fourth such purchase in as many weeks.
The newly dubbed “Bitcoin development company” said Monday that it bought approximately 15,400 Bitcoin for $1.5 billion between November 25 and December 1.
It snapped up the orange coins at an average price of approximately $95,976, the announcement added.
MicroStrategy has acquired 15,400 BTC for ~$1.5 billion at ~$95,976 per #bitcoin and has achieved BTC Yield of 38.7% QTD and 63.3% YTD. As of 12/2/2024, we hodl 402,100 $BTC acquired for ~$23.4 billion at ~$58,263 per bitcoin. $MSTRhttps://t.co/K3TK4msGp0
MicroStrategy now holds 402,100 Bitcoin. At today’s price, that’s about $39 billion in the leading cryptocurrency. Bitcoin is now trading for $97,000, according to CoinGecko.
The formerly sleepy software company now securitizes Bitcoin by buying the asset and allowing investors to buy its Nasdaq-listed shares to get exposure to the cryptocurrency.
MicroStrategy co-founder and Executive Chairman Michael Saylor came up with the idea back in 2020. The company in August of that year spent $250 million on the asset.
Saylor claims to have found the ultimate way to store value: The tech entrepreneur argues that Bitcoin is the best bet if companies want to get returns for their shareholders, as the digital coin is scarce and appreciates more than other investments each year.
“Whoever gets the most Bitcoin wins,” Saylor said in a March interview.
And he may have a point: MicroStrategy stock (NASDAQ: MSTR) was trading for less than $15 a share before the company started buying Bitcoin. Today, it’s trading for $389, and surged to a new all-time high price last month. The company has beat most other firms on the S&P 500.
Strategy, fronted by outspoken Bitcoin bull and Executive Chairman Michael Saylor, added to its sizable Bitcoin holdings Monday with the purchase of 20,356 BTC—or approximately $2 billion worth.
The purchase is the latest in a string of Bitcoin purchases dating back to 2020, when Strategy (formerly MicroStrategy) and Saylor made the strategic decision to allocate capital to the leading cryptocurrency to “maximize long-term value for shareholders.”
Since that time, the business intelligence firm...
MicroStrategy has repeatedly bought Bitcoin since 2020, but this year accelerated its buys as the price of Bitcoin surges. The firm recently said that it will raise $42 billion in additional funding to continue buying Bitcoin, as it has started to do recently.
Everyone’s got an opinion, and prediction markets have become one of the most popular ways for users in crypto to share theirs—and maybe make some bank on it.
On Myriad Markets, users are able to predict event outcomes on markets across lots of different fields, like predicting the price of Bitcoin or the winner of the NBA Championship. And there are plenty more options beyond crypto and sports, including politics, culture, and gaming.
What’s generating interest on Myriad this week? Here’s a loo...
The Bitcoin options market has spiked to an all-time high alongside the asset’s climb toward a record $112,000, Greg Magadini, director of derivatives at crypto data provider Amberdata, told Decrypt on Thursday.
Open interest for Bitcoin options most recently stood at around $65 billion, including contracts traded through venues like the Chicago Mercantile Exchange, or CME, as well as options tied to BlackRock’s spot exchange-traded fund, he said.
Based solely on traders’ positioning, options ma...
Bitcoin keeps rising Thursday, inching up to yet another all-time high mark after beating its four-month-old record on Wednesday. And that momentum appears to be spreading to other top coins, which have put up even larger daily gains than Bitcoin.
As of this writing, Bitcoin just hit a new record price of $111,808, per data from CoinGecko, continuing upward after first breaching the $110,000 mark late Wednesday. Bitcoin is now up 4.5% on the day and 22% over the last 30 days.
The leading cryptoc...