{"id":653750,"date":"2024-11-18T16:10:38","date_gmt":"2024-11-18T16:10:38","guid":{"rendered":"https:\/\/wncen.com\/?p=653750"},"modified":"2024-11-18T16:10:38","modified_gmt":"2024-11-18T16:10:38","slug":"microstrategy-makes-record-4-6-billion-bitcoin-purchase-largest-yet","status":"publish","type":"post","link":"https:\/\/wncen.com\/breaking-news-ticker\/microstrategy-makes-record-4-6-billion-bitcoin-purchase-largest-yet\/","title":{"rendered":"MicroStrategy Makes Record $4.6 Billion Bitcoin Purchase, Largest Yet"},"content":{"rendered":"

Business intelligence firm MicroStrategy has ramped up its Bitcoin (BTC) investment following President-elect Donald Trump’s victory in the presidential election. This pivotal moment on November 5 has provided a catalyst for the broader crypto market, further encouraging investment in digital assets.<\/span><\/p>\n

Bitcoin Holdings To Over $29 Billion<\/span><\/h2>\n

Led by Bitcoin advocate Michael Saylor, MicroStrategy disclosed on Monday that it has acquired approximately 51,780 Bitcoin for around $4.6 billion. This acquisition marks the<\/span> largest purchase<\/span><\/a> by the company since it began its Bitcoin buying strategy more than four years ago.\u00a0<\/span><\/p>\n

According to a <\/span>filing <\/span><\/a>with the US Securities and Exchange Commission, the tokens were purchased between November 11 and November 17. With this latest acquisition, MicroStrategy’s total Bitcoin holdings now exceed $29 billion or 331,200 BTC.<\/span><\/p>\n

Related Reading: Dogecoin Breaking Out Of Falling Wedge Pattern \u2013 Analyst Reveals Target<\/a><\/div>\n

Saylor’s journey into Bitcoin began in 2020 as a <\/span>strategy <\/span><\/a>to hedge against inflation. Initially funded through cash reserves, the company has since pivoted to using proceeds from stock issuances and convertible debt sales to enhance its purchasing power in the cryptocurrency market.\u00a0<\/span><\/p>\n

Michael Saylor has also <\/span>reaffirmed <\/span><\/a>his commitment to this strategy. He aims to raise $42 billion over the next three years to further strengthen the company’s BTC portfolio and transform Microstrategy into a leading crypto bank.\u00a0<\/span><\/p>\n

BTC Yield Rises To 20.4% Amid Market Optimism<\/span><\/h2>\n

Recent <\/span>data <\/span><\/a>from South Korea-based crypto analytics firm CryptoQuant highlights the impact of MicroStrategy’s latest purchase on its Bitcoin statistics:<\/span><\/p>\n