Microstrategy Buys Another 10 Million Worth Of Bitcoin Total Holdings Now Worth 5 Billion

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MicroStrategy Buys Another $10 Million Worth of Bitcoin, Total Holdings Now Worth $5 Billion

MicroStrategy Incorporated (NASDAQ:MSTR) recently announced that it has purchased an additional $10 million worth of Bitcoin, bringing its total holdings to 108,992 Bitcoins, currently worth around $5 billion.

This latest purchase is part of MicroStrategy's ongoing strategy to invest in Bitcoin as a long-term store of value and a hedge against inflation. The company has been a vocal supporter of Bitcoin, and its CEO, Michael Saylor, has repeatedly stated his belief that Bitcoin is the "digital gold" of the 21st century.

MicroStrategy's Bitcoin Holdings Now Worth $5 Billion

MicroStrategy's purchase of $10 million worth of Bitcoin brings its total holdings to 108,992 Bitcoins, currently worth around $5 billion. This makes MicroStrategy the largest publicly traded corporate holder of Bitcoin.

The company's average purchase price for its Bitcoin holdings is $24,475, which means that it is currently sitting on a significant paper profit. However, MicroStrategy has stated that it has no plans to sell its Bitcoin and intends to continue to hold it for the long term.

MicroStrategy's Bitcoin Strategy

MicroStrategy's Bitcoin strategy is based on the belief that Bitcoin is a scarce, digital asset that has the potential to appreciate in value over time. The company views Bitcoin as a hedge against inflation and a long-term store of value.

MicroStrategy's CEO, Michael Saylor, has been a vocal advocate for Bitcoin, and he has repeatedly stated his belief that Bitcoin is the "digital gold" of the 21st century. Saylor believes that Bitcoin has the potential to become a global reserve currency and that it will eventually replace gold as the world's primary store of value.

Conclusion

MicroStrategy's latest purchase of Bitcoin is a sign of the company's continued commitment to Bitcoin. The company believes that Bitcoin is a scarce, digital asset that has the potential to appreciate in value over time. MicroStrategy intends to continue to hold its Bitcoin for the long term and believes that it will eventually become a global reserve currency.