As a seasoned crypto investor with a knack for spotting trends and a portfolio that’s seen more ups and downs than a roller coaster ride, I can’t help but admire MicroStrategy’s bold move to invest in Bitcoin. It’s not every day you see a company go all-in on a single asset, especially one as volatile as Bitcoin.
Business intelligence firm MicroStrategy has announced its biggest Bitcoin purchase to date.
The Virginia-based company added 55,500 BTC, shelling out $97,862 per coin.
Following the recent gargantuan purchase, MicroStrategy holds a total of 386,700 BTC.
Currently, the profitability of the company’s Bitcoin investments hinges on the Bitcoin price exceeding $56,761.
The cost of Bitcoin dropped to approximately $97,362 after the announcement on Monday, a decline that was largely anticipated by the market.
Despite the latest announcement, MicroStrategy’s shares are holding strong, showing a gain of approximately 3%.
Over the past year, the company’s shares have experienced an astonishing surge of approximately 515%. Yet, there is a growing apprehension regarding the feasibility of their bold plan to swap debt for Bitcoin.
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2024-11-25 16:26