MicroStrategy Buys $243 Million More Bitcoin
On January 13, 2025, MicroStrategy announced it acquired an additional $243 million worth of Bitcoin, purchasing at an average price of approximately $95,972. This comes as Bitcoin is trading above $91,000, despite a 3.4% drop from the previous day and a more significant decline over the past week. With this latest purchase, MicroStrategy now holds around 450,000 BTC at an average price of $62,691, totaling about $28.2 billion. This investment is more than 45.5% lower than Bitcoin's current value of $41.04 billion. MicroStrategy's stock is trading at $328, significantly down from its high of nearly $474 in November 2024. This consistently aggressive strategy of accumulating Bitcoin began in 2020 and has influenced other corporations, including Tesla and Block. The company aims to pave the way for more businesses to invest in Bitcoin, highlighting a growing trend among institutional players in the cryptocurrency space.
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