- MicroStrategy acquired 11,000 Bitcoin at $100,000 per coin, in its first transaction under the Trump administration.
- MicroStrategy currently owns 461,000 Bitcoins worth $48 billion, leaving it as the biggest publicly traded entity to hold BTC.
- World Liberty Financial, another Trump-supported bitcoin company, also made massive Bitcoin purchases.
MicroStrategy, the Tysons Corner-based software company, has continued its aggressive Bitcoin acquisition strategy, purchasing 11,000 BTC for $1.1 billion. The announcement came just a day after Donald Trump was sworn in as the 47th President of the United States.
MicroStrategy revealed its most recent purchase of Bitcoin in a filing submitted by the executive chairman Michael Saylor on Tuesday, January 21. This purchase was made at an average price of one Bitcoin at $101,191, according to the data. When combined with its other buys, MicroStrategy now holds 461,000 BTC in its treasury which it paid $29.3 billion for.
The cryptocurrency was bought at $105,044 which is just slightly less than its all-time high of $108,786 recorded on the day of the inauguration.MicroStrategy has about $48 billion in Bitcoin, which tells a lot about how much the company trusts its cryptocurrency strategies.
Saylor, the biggest Bitcoin proponent, unveiled the company’s 21/21 plan to bring Bitcoin’s value to the balance sheet to more than $100 billion by 2028.
When acquiring the cryptocurrency, Bitcoin was on sale at $105, 044 just a few hours after it had reached a record of $108, 786 on the day of the inauguration. MicroStrategy now holds Bitcoin worth $48 billion which clearly shows that the company is not backing down from its BTC investment strategy.
Trump-Backed Financial Firm Joins the BTC Movement
Besides MicroStrategy’s significant acquisition, World Liberty Financial, a platform endorsed by President Trump and his sons, made a substantial Bitcoin purchase. The company acquired $47 million worth of Wrapped Bitcoin shortly before Trump took the oath of office. This move signals potential growth in institutional Bitcoin adoption under the new administration.
Institutional Bitcoin Adoption: A Look at the Trends
Other companies are following the same aggressive strategy as MicroStrategy, such as Bitcoin miners Marathon Digital, and Riot Platforms. These firms have also followed the same strategies to increase their Bitcoin holdings, which shows that more institutions are attracted to digital assets.
Publicly traded companies like KURL and offshore entities such as Genius Group have also joined the trend, adding Bitcoin to their balance sheets. This wave of adoption highlights the increasing role of Bitcoin in corporate financial strategies.
The post MicroStrategy Buys 11,000 Bitcoin for $1.1 Billion After Trump Takes Office appeared first on Cryptonewsland.
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