<img src="https://bitcoinmagazine.com/.image/c_fit%2Ch_800%2Cw_1200/MTg2NjA5MDA2MzYwNTM2OTI1/michael-saylor-max-keiser-bitcoin-2021.jpg” />
MicroStrategy announced that it had btc-achieves-btc-yield-of-4-qtd-17-ytd-now-holds-244800-btc“>bought 18,300 bitcoin for $1.11 billion, bringing their total holdings to 244,800 btc acquired for $9.45 billion.
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BREAKING: MicroStrategy buys an additional 18,300 shares twitter.com/hashtag/bitcoin?src=hash&ref_src=twsrc%5Etfw”>#bitcoin for 1.11 billion dollars. image.twitter.com/qhMg5EOqUF
— bitcoin Magazine (@BitcoinMagazine) twitter.com/BitcoinMagazine/status/1834564678275473639?ref_src=twsrc%5Etfw”>September 13, 2024
The business intelligence firm, led by bitcoin bull Michael Saylor, has been steadily accumulating bitcoin as part of its corporate strategy since 2020. MicroStrategy’s latest $1 billion purchase was made at an average price of $60,408 per bitcoin.
x.com/saylor/status/1834564555944481227″>According to SaylorThe company has achieved a 17% bitcoin return so far this year, taking advantage of btc's appreciation while continuing to borrow fiat at low interest rates to expand its holdings.
At current prices, MicroStrategy's bitcoin hoard is worth over $15 billion, greatly benefiting shareholders. The company's stock price has risen in tandem with its bitcoin accumulation.
Despite tough market conditions in 2024, MicroStrategy continues to increase its bitcoin position for the long term. The company treats bitcoin as a superior treasury asset compared to cash, which is subject to inflationary devaluation.
MicroStrategy is executing the largest speculative attack on fiat currency in history by acquiring the soundest money for its treasury. Other public companies are following MicroStrategy’s lead by adopting bitcoin treasury policies and acquiring bitcoin exposure on their balance sheets. However, MicroStrategy remains the largest corporate holder of bitcoin in the world.
By leveraging underutilized capital to capture the potential of bitcoin, MicroStrategy has emerged as a bitcoin development startup that is driving global bitcoin adoption.
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