MicroStrategy Increases Its Bitcoin Holdings, Reaching $13.22 Billion
MicroStrategy, a smart business company, whose chairman is Micheal Saylor; has kept on acquiring more Bitcoin, thereby increasing its holdings of BTC. MicroStrategy was among the first companies to start buying digital assets, developing interest in cryptocurrency.
As a result, MicroStrategy has being a big name in the cryptocurrency industry. Recently, MicroStrategy acquired additional 122 Bitcoin to its holdings, approximately $7.8 million in value, in April 2024; at a price of about $63,934.
This recent purchase of Bitcoin by MicroStrategy has increased its holdings to 214,000 Bitcoin, which is worth about $13.22 billion. And the average price that the Bitcoin was acquired was about $35,180. Going by the present price of Bitcoin, MicroStrategy has made profits of about $5.68 billion.
MicroStrategy was the number one public firm to have purchased Bitcoin, as of 2020. MicroStrategy has previously stated that it started buying Bitcoin as a way to hedge against inflation. Only a small number of crypto related companies in the United States, and Tesla have decided to add BTC to their financial statement.
Gradually a whole lot of people keep believing in the future of bitcoin and that is why it is needed we keep buying more of bitcoin
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