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Breaking News: Bitcoin Price Slips Below $108,000: Peter Schiff Anticipates ‘Brutal’ Bear Market, CZ Responds
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Breaking News: Bitcoin Price Slips Below $108,000: Peter Schiff Anticipates ‘Brutal’ Bear Market, CZ Responds

MicroStrategy’s Largest Bitcoin Order Since 2021: Purchases Additional $1.1 Billion

Ronaldo Marquez
Ronaldo Marquez
1 year ago
3 mins read
Gemini

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Business intelligence company MicroStrategy has made big headlines again with its latest acquisition of 18,300 Bitcoin, valued at approximately $1.11 billion. 

The purchase, the largest by the company in over three years, was disclosed in a recent filing with the US Securities and Exchange Commission (SEC), which took place between August 6 and September 12, 20241.

MicroStrategy Now Holds 1% Of All BTC Ever Issued

This purchase brings MicroStrategy’s total Bitcoin holdings to around 244,800 BTC, valued at approximately $14 billion. Notably, this represents about 1% of all Bitcoin ever issued. The company acquired its Bitcoin at an aggregate purchase price of about $9.45 billion, with an average purchase price of approximately $38,585.

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According to Bloomberg, the company’s latest acquisition was financed through the issuance and sale of common shares, a strategy that has been part of its broader capital allocation plan. In August, MicroStrategy conducted a 10-for-1 stock split to make its shares more accessible to investors and employees.

Based in Tysons Corner, Virginia, MicroStrategy began its Bitcoin acquisition strategy in 2020 as a hedge against inflation. Co-founder and executive chairman Michael Saylor has been a vocal advocate for Bitcoin, viewing it as a superior store of value compared to traditional assets like cash, bonds, or gold. 

Despite the volatility in the cryptocurrency market, Saylor remains confident in Bitcoin’s long-term potential and continues to accumulate more digital assets.

Bitcoin Price Analysis

As reported by NewsBTC, Saylor revealed that he owns about $1 billion worth of BTC and has no plans to sell any of his holdings. He believes Bitcoin is a great investment for individuals, families, institutions, and even countries. 

However, Saylor’s belief in BTC’s potential is further reflected in his prediction that the cryptocurrency could reach a value of $13 million by 2045, based on the belief that BTC will eventually evolve to reach 7% of the world’s capital.

Moreover, the company’s investments have led to a surge in MicroStrategy’s stock (MSTR), which has more than doubled this year, outperforming the approximately 40% increase in the Bitcoin price over the same period.

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When writing, the BTC is trading at $58,820, up 2.3% in the last 24 hours and over 8% in the last seven days alone. This could potentially signal a continuation of the recovery seen not only in the BTC, but in the broader market, which has managed to endure notable spikes in volatility. 

Bitcoin
The daily chart shows that BTC’s price is trending upward. Source: BTCUSDT on TradingView.com

Nevertheless, BTC’s ability to move higher will be determined by its ability or inability to break through its biggest resistance wall to date, which is the 200-day exponential moving average on the daily BTC/USDT chart, marked by the yellow line above, at $59,775.

Featured image from DALL-E, chart from TradingView.com

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Ronaldo Marquez
Ronaldo Marquez

Ronaldo Marquez

Ronaldo is an experienced crypto enthusiast dedicated to the nascent and ever-evolving industry. With over five years of extensive research and unwavering dedication, he has cultivated a profound interest in the world of cryptocurrencies.

Read more

Ronaldo's journey began with a spark of curiosity, which soon transformed into a deep passion for understanding the intricacies of this groundbreaking technology.

Driven by an insatiable thirst for knowledge, Ronaldo has delved into the depths of the crypto space, exploring its various facets, from blockchain fundamentals to market trends and investment strategies. His tireless exploration and commitment to staying up-to-date with the latest developments have granted him a unique perspective on the industry.

One of Ronaldo's defining areas of expertise lies in technical analysis. He firmly believes that studying charts and deciphering price movements provides valuable insights into the market. Ronaldo recognizes that patterns exist within the chaos of crypto charts, and by utilizing technical analysis tools and indicators, he can unlock hidden opportunities and make informed investment decisions. His dedication to mastering this analytical approach has allowed him to navigate the volatile crypto market with confidence and precision.

Ronaldo's commitment to his craft goes beyond personal gain. He is passionate about sharing his knowledge and insights with others, empowering them to make well-informed decisions in the crypto space. Ronaldo's writing is a testament to his dedication, providing readers with meaningful analysis and up-to-date news. He strives to offer a comprehensive understanding of the crypto industry, helping readers navigate its complexities and seize opportunities.

Outside of the crypto realm, Ronaldo enjoys indulging in other passions. As an avid sports fan, he finds joy in watching exhilarating sporting events, witnessing the triumphs and challenges of athletes pushing their limits. Furthermore, His passion for languages extends beyond mere communication; he aspires to master German, French, Italian, and Portuguese, in addition to his native Spanish. Recognizing the value of linguistic proficiency, Ronaldo aims to enhance his work prospects, personal relationships, and overall growth.

However, Ronaldo's aspirations extend far beyond language acquisition. He believes that the future of the crypto industry holds immense potential as a groundbreaking force in history. With unwavering conviction, he envisions a world where cryptocurrencies unlock financial freedom for all and become catalysts for societal development and growth. Ronaldo is determined to prepare himself for this transformative era, ensuring he is well-equipped to navigate the crypto landscape.

Ronaldo also recognizes the importance of maintaining a healthy body and mind, regularly hitting the gym to stay physically fit. He immerses himself in books and podcasts that inspire him to become the best version of himself, constantly seeking new ways to expand his horizons and knowledge.

With a genuine desire to become the best version of himself, Ronaldo is committed to continuous improvement. He sets personal goals, embraces challenges, and seeks opportunities for growth and self-reflection. Ultimately, combining his passion for cryptocurrencies, dedication to learning, and commitment to personal development, Ronaldo aims to go hand-in-hand with the exciting new era that the emerging crypto technology is bringing to the world and societies.

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Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

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Reason to trust

Strict editorial policy that focuses on accuracy, relevance, and impartiality
Created by industry experts and meticulously reviewed
The highest standards in reporting and publishing
How Our News is Made

Strict editorial policy that focuses on accuracy, relevance, and impartiality

Ad discliamer

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NewsBTC is a cryptocurrency news service that covers bitcoin news today, technical analysis & forecasts for bitcoin price and other altcoins. Here at NewsBTC, we are dedicated to enlightening everyone about bitcoin and other cryptocurrencies.

We cover BTC news related to bitcoin exchanges, bitcoin mining and price forecasts for various cryptocurrencies.

Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

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