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MicroStrategy has acquired 27,200 extra Bitcoin for over $2 billion, boosting the worth of its portfolio to about $23.5 billion as some analysts say Bitcoin is headed for $100K.
The agency stated in a Nov. 11 statement that it purchased one other 27.2k BTC for $2.03 billion between Oct. 31 and Nov. 10, taking its whole holdings to 279,420 BTC. The most recent Bitcoin had been acquired at a median value of $74,463.
The corporate is now sitting on Bitcoin income in extra of $11 billion.
I feel https://t.co/meaZhpFNq9 wants extra inexperienced dots. pic.twitter.com/faeNCKAvNQ
— Michael Saylor⚡️ (@saylor) November 10, 2024
MicroStrategy To Double Down On Bitcoin Purchases
As the most important company Bitcoin holder, MicroStrategy’s aggressive technique units it aside within the crypto funding house, dwarfing different main company patrons of BTC like Marathon Digital and Riot Platforms, whose Bitcoin holdings are valued at $2.1 billion and $840 million, respectively.
Regardless of already holding an unmatched amount of Bitcoin, MicroStrategy’s ambitions stay unbridled.
The corporate not too long ago announced its “21/21” initiative, an audacious three-year plan to amass an extra $42 billion in Bitcoin. This initiative envisioned the agency elevating $21 billion by fairness and one other $21 billion through fixed-income investments, reflecting MicroStrategy’s unwavering perception in Bitcoin as a cornerstone of its monetary technique.
Will Bitcoin Hit $100K?
Donald Trump’s election win has buoyed the crypto market, prompting some analysts to say the Bitcoin value might move $100k.
Amongst these is Bitget Analysis’s chief analyst Ryan Lee, who sees Donald Trump’s election win firing up Bitcoin for a run on the enormous $100k degree.
“With the Republican sweep in Congress, there could also be favorable developments within the regulatory framework for the crypto market, which might be a long-term constructive for the business,” he stated.
Bitcoin has surged 5.2% within the final 24 hours to commerce at $84,745 as of 12.58 p.m. EST after setting a brand new all-time excessive of $84,962 earlier within the day.
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