The post $179M Strategy (MSTR) Bitcoin Purchase Pushes Holdings Near 480K BTC appeared first on Coinpedia Fintech News
MicroStrategy (NASDAQ: MSTR), the world’s largest corporate Bitcoin (BTC) holder, isn’t slowing down. The company has added 7,633 more BTC to its growing stash between February 3 and 9, doubling down on its bullish Bitcoin strategy. With a market value of over $84 billion, MicroStrategy used proceeds from a $516.4 million stock sale to fund the purchase, bringing its total investment to $179 million.
With Bitcoin hovering around $97,000, this move puts MicroStrategy’s holdings at an eye-watering level. Let’s break it down.
A Look at MicroStrategy’s Bitcoin Holdings
MicroStrategy also raised $563 million from a February 5 public offering of 7.3 million shares of its 8% Series A Perpetual Strike Preferred Stock. This additional funding further strengthened its Bitcoin buying power.
With this latest purchase, MicroStrategy now holds 478,740 BTC, worth over $46 billion at the current price of around $97,000 per BTC. The company has spent $31.1 billion on its Bitcoin purchases so far, meaning Michael Saylor and MicroStrategy’s shareholders are sitting on an unrealized profit of over $15 billion.
Market Impact of Strategy’s Bitcoin Acquisitions
The strategic acquisition of Bitcoins by Strategy has helped in the ongoing Bitcoin recovery after a bearish start in February. With Strategy having influenced other global companies – led by Tokyo-based Metaplanet Inc., and India’s JetKing – the supply of Bitcoins for sale will continue to decline exponentially.
Investors are increasingly speculating that nation-states, led by the United States, could adopt Bitcoin in the future. Many believe that Bitcoin’s price will eventually follow the same patterns as gold, especially as institutional investors drive demand.
For now, Bitcoin has established a strong support range between $91,000 and $108,000, signaling price stability and potential for further gains.
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The post $179M Strategy (MSTR) Bitcoin Purchase Pushes Holdings Near 480K BTC appeared first on Coinpedia Fintech News
MicroStrategy (NASDAQ: MSTR), the world’s largest corporate Bitcoin (BTC) holder, isn’t slowing down. The company has added 7,633 more BTC to its growing stash between February 3 and 9, doubling down on its bullish Bitcoin strategy. With a market value of over $84 billion, MicroStrategy used proceeds from a $516.4 million stock sale to fund …
This articles is written by : Nermeen Nabil Khear Abdelmalak
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