MicroStrategy has announced another Bitcoin purchase, making it the company’s ninth BTC acquisition in as many weeks. The software company now holds 447,470 BTC, which it acquired for $27.97 billion.
MicroStrategy Acquires 1,070 BTC For $101 Million
In a press release, MicroStrategy announced that it had acquired 1,070 BTC for $101 million at an average price of $94,004 per bitcoin. The company also revealed that it achieved a BTC yield of 48.0% in the fourth quarter of 2024 and 74.3% in the 2024 financial year.
Following its recent Bitcoin purchase, MicroStrategy now holds 447,470 BTC, which it acquired for $27.97 billion at an average price of $62,503 per Bitcoin. This marks the company’s ninth purchase in as many weeks. Last week, the company announced a Bitcoin purchase of 2,138 BTC for $209 million.
The software company already holds the crown as the public company with the largest Bitcoin holdings and doesn’t look to be slowing down anytime soon. It recently announced plans to raise up to $2 billion to buy more Bitcoin.
This $2 billion capital raise is in addition to the $42 billion the company had planned to raise over three years. This $2 billion will be raised through a public offering.
Meanwhile, the MSTR stock price has rebounded amid this recent Bitcoin purchase. Nasdaq data shows the stock is up over 3% today, trading at around $350.
Other Bitcoin Whales Are Accumulating
Besides MicroStrategy, other Bitcoin whales are also accumulating the flagship crypto. Whale Alert data shows that an investor recently moved 1,696 BTC from an unknown wallet to another, indicating an accumulation trend.
Another Bitcoin Whale also transferred 1,194 BTC from Coinbase to an unknown wallet. Transfers from crypto exchanges to unknown wallets suggest that the investors want to hold their coins for the long term.
This provides a bullish outlook for the flagship crypto and hints at further rallies for Bitcoin. A recent CoinGape raised the possibility of the Bitcoin price correction being finally over. It is worth mentioning that BTC recently touched $100,000, suggesting that a bullish reversal is imminent.
Boluwatife Adeyemi
Boluwatife Adeyemi is a well-experienced crypto news writer and editor who has covered topics that cut across DeFi, NFTs, smart contracts, and blockchain interoperability, among others. Boluwatife has a knack for simplifying the most technical concepts and making it easy for crypto newbies to understand. Away from writing, He is an avid basketball lover and a part-time degen.
Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.
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