BREAKING NEWS: MicroStrategy acquires additional 11,931 Bitcoins
Microstrategy has reported its acquisition of additional 11,931 Bitcoins. This was reported in an X post today June 20 after it completed the $800 Million Offering of 2.25% Convertible Senior Notes due in 2032.
MicroStrategy has acquired an additional 11,931 BTC for ~$786.0M using proceeds from convertible notes & excess cash for ~$65,883 per #bitcoin. As of 6/20/24, $MSTR hodls 226,331 $BTC acquired for ~$8.33B at average price of $36,798 per bitcoin. - [Tweet]9~~~ embed:1803763490928119950) twitter metadata:c2F5bG9yfHxodHRwczovL3R3aXR0ZXIuY29tL3NheWxvci9zdGF0dXMvMTgwMzc2MzQ5MDkyODExOTk1MCl8 ~~~
Now, Microstrategy holds a total of 226,331 $BTC acquired with apporximately $8.33B at average price of $36,798 per bitcoin. At today's pricing, Microstrategy's Bitcoin vault is worth $14.8B. Already on a profit of about $6B.
MicroStrategy is one of the world’s largest public holders of Bitcoin. With this new acquisition and the volume of Bitcoin in its vault, do you think it could have any impact in the crypto market and ecosystem at large?
Let's hear your thoughts in the comments section of this post.
Posted Using InLeo Alpha
This move could boost market sentiment
Wow. This means that this institution believes in crypto and particularly, Bitcoin with a long term plan.
Yeah, there are many instructional interests in crypto and it can only get better.
wow! That's a huge holding. I think they'll be part of those that will control the market fluctuations
That is a lot indeed.
Yeah, it could have impact on the Bitcoin price due to the high demand created by such transactions and could spur growth within the ecosystem.
Overall, Bitcoin is a double edged sword. Meaning, it can appreciate and depreciate. We need to wise here.
Thank you for sharing.
Their large holdings can contribute to market stability, as they may buy or sell BTC to maintain their target allocation, influencing prices.
Question
How long will MicroStrategy last as one of the corporations supporting the development of Bitcoin and other cryptocurrencies?