🔥 MicroStrategy Buys $5 Billion More in Bitcoin!
posted 25 Nov 2024
On November 25, MicroStrategy CEO Michael Saylor announced the acquisition of 55,500 Bitcoin at an average price of ~$97,862, totaling $5.4 billion. As of November 24, 2024,
MicroStrategy’s BTC holdings amount to 386,700 coins, purchased for $21.9 billion at an average cost of ~$56,761 each, according to a post shared on X.
MicroStrategy now holds nearly 2% of Bitcoin’s total supply, with its holdings valued at over $37 billion at the time of this article.
The Block reports that Bernstein analysts anticipate MicroStrategy’s goal is to reach 4% of Bitcoin’s total supply by 2033.
This goal requires $42 billion in capital, which the company expects to secure over three years. Analysts suggest, however, that MicroStrategy could achieve this in just 18 months.
While MicroStrategy shines under Michael Saylor’s leadership, U.S. spot Bitcoin ETFs reported a staggering $3.38 billion in net inflows last week (November 18–22), as per SoSoValue.
In sharp contrast, U.S. spot Ethereum ETFs faced challenges, reporting $71.6 million in net outflows during the same period.
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