The post MicroStrategy Buys 55,500 Bitcoins Worth ~$5.4 Billion! appeared first on Coinpedia Fintech News
Microstrategy witnessed an incredible 24.7% rise in its stock (NASDAQ: MSTR) price this week. The uptrend was buoyed by Bitcoin’s rally and the company’s planned financial moves. Widely known for its aggressive Bitcoin hodling and accumulation strategy, Microstrategy had cited a convertible debt, that offers a 0% interest rate grabbing the market’s attention.
The firm’s CEO Michael Saylor’s bold decision from 2020, to pivot the company’s balance sheet to Bitcoin, has yielded enormous rewards. Speaking at a press conference the previous day, Michael disclosed an astonishing $5.4 billion gain in Bitcoin holdings over the past two weeks. The numbers equal to a staggering $500 million per day.
Donald Trump’s recent win in the U.S Presidential Elections has opened doors to a crypto-friendly environment. With this the speculation about Microstrategy’s next Bitcoin buying-spree has been growing louder in the industry. The Bitcoin-focussed company has recently completed a $3 billion convertible bond sale, that is all-set to potentially boost its massive Bitcoin reserves of 279,420 coins.
In a recent acquisition drive, Saylor-led Microstrategy has stacked “_______” BTCs worth “______” at an average price of ~$97,862 per Bitcoin. With this the firm’s current Bitcoin reserve hits “_____” coins. Successively, the intraday trading volumes of BTC is up “%” to $____. Meanwhile, Bitcoin price saw a change of “_____%” in the past 24-hours taking the numbers to $______.
FAQs
MicroStrategy’s latest update confirms a holding of Bitcoins, with more acquisitions anticipated.
The stock soared due to Bitcoin’s price appreciation, a $3 billion bond sale, and optimism around its Bitcoin-focused strategy.
The price of 1 BTC at the time of press is hovering around $.
