MicroStrategy Buys Another $2 Billion Bitcoin, Taking BTC Hoard Past $23 Billion As Analysts Eye BTC At $100K

MicroStrategy
has
acquired
27,200
more
Bitcoin
for
over
$2
billion,
boosting
the
value
of
its
portfolio
to
about
$23.5
billion
as
some
analysts
say
Bitcoin
is
headed
for
$100K.

The
firm
said
in
a
Nov.
11

statement
that
it
bought
another
27.2k
BTC
for
$2.03
billion
between
Oct.
31
and
Nov.
10,
taking
its
total
holdings
to
279,420
BTC.
The
latest
Bitcoin
were
acquired
at
an
average
price
of
$74,463.

The
company
is
now
sitting
on
Bitcoin
profits
in
excess
of
$11
billion.

I
think

https://t.co/meaZhpFNq9
needs
more
green
dots.

pic.twitter.com/faeNCKAvNQ

—
Michael
Saylor⚡️
(@saylor)

November
10,
2024

MicroStrategy
To
Double
Down
On
Bitcoin
Purchases

As
the
largest
corporate
Bitcoin
holder,
MicroStrategy’s
aggressive
strategy
sets
it
apart
in
the
crypto
investment
space,
dwarfing
other
major
corporate
buyers
of
BTC
like
Marathon
Digital
and
Riot
Platforms,
whose
Bitcoin
holdings
are
valued
at
$2.1
billion
and
$840
million,
respectively.

Despite
already
holding
an
unmatched
quantity
of
Bitcoin,
MicroStrategy’s
ambitions
remain
unbridled. 

The
company
recently

announced
its
“21/21”
initiative,
an
audacious
three-year
plan
to
amass
an
additional
$42
billion
in
Bitcoin.
This
initiative
envisioned
the
firm
raising
$21
billion
through
equity
and
another
$21
billion
via
fixed-income
investments,
reflecting
MicroStrategy’s
unwavering
belief
in
Bitcoin
as
a
cornerstone
of
its
financial
strategy.

Will
Bitcoin
Hit
$100K?

Donald
Trump’s
election
win
has
buoyed
the
crypto
market,
prompting
some
analysts
to
say
the
Bitcoin
price
may
pass
$100k.

Among
those
is
Bitget
Research’s
chief
analyst
Ryan
Lee,
who
sees
Donald
Trump’s
election
win
firing
up
Bitcoin
for
a
run
at
the
huge
$100k
level.

“With
the
Republican
sweep
in
Congress,
there
may
be
favorable
developments
in
the
regulatory
framework
for
the
crypto
market,
which
would
be
a
long-term
positive
for
the
industry,”
he
said.

Bitcoin
has
surged
5.2%
in
the
last
24
hours
to
trade
at
$84,745
as
of
12.58
p.m.
EST
after
setting
a
new
all-time
high
of
$84,962
earlier
in
the
day.

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