Despite the ongoing price correction in Bitcoin (BTC), MicroStrategy (MSTR), the largest corporate BTC holder, has once again made a significant investment in BTC. Before the opening bell of the U.S. market, MicroStrategy’s chair and founder, Michael Saylor announced on X (formerly Twitter) that the company had acquired an additional 15,400 BTC worth $1.5 billion.
MicroStrategy’s Latest Bitcoin Purchase
Sayler in a post on X, added that they have acquired this notable BTC at an average price of $95,976 per Bitcoin. With a Bitcoin yield of 38.7% quarter-to-date (QTD) and 63.3% year-to-date (YTD), MicroStrategy’s strategy has delivered remarkable returns.
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. $MSTR https://t.co/K3TK4msGp0
— Michael Saylor
(@saylor) December 2, 2024
With the recent acquisitions, MicroStrategy’s holdings have soared to 402,100 BTC, which the firm acquired over four years for a total of $23.4 billion at an average price of $58,263 per Bitcoin.
Bitcoin Adoption by Industry Giant
These ongoing acquisitions not only establish MSTR as a major BTC holder but also continue to inspire other firms to adopt BTC, as previously reported by CoinPedia. In November alone, a prominent medical firm, Semler Scientific, acquired $30 million worth of BTC, while the AI company Genius Group purchased $120 million worth of BTC.
This adoption of Bitcoin signals potential buying opportunities before it’s too late. Currently, BTC seems to be consolidating within a narrow range after a significant upward rally triggered by the presidential election results in the United States.
BTC Price Momentum
At press time, Bitcoin is trading near $95,700 and has registered a price drop of 1.56% in the past 24 hours. During the same period, its trading volume surged by 70%, signaling significant activity from traders and investors amid bullish market sentiment.
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