MicroStrategy Surpasses 1% of Total Bitcoin Supply with New Purchase

MicroStrategy has once again made headlines by purchasing an additional 9,245 BTC, worth approximately $623 million, pushing its total Bitcoin holdings to exceed 1% of the cryptocurrency's total supply.

With an unwavering commitment, Michael Saylor, the company's founder, continues to back Bitcoin, even predicting a tenfold increase in its value from its current price.

Dive into the details of this monumental acquisition and what it signifies for the future of Bitcoin.

MicroStrategy's Addition of 9,245 BTC Worth Approximately $623 Million

MicroStrategy, known for its continuous Bitcoin (BTC) acquisitions, has recently added another 9,245 BTC to its holdings.

This purchase has propelled the company's total Bitcoin ownership to exceed 1% of the cryptocurrency's total supply.

The total supply of Bitcoin is capped at 21 million BTC, but MicroStrategy's holdings have now reached 214,246 BTC following this latest acquisition.

The newly acquired Bitcoins were bought with a combination of proceeds from convertible senior notes and surplus cash, totaling approximately $623 million. The average purchase price for these Bitcoins was reported to be $67,382.

Michael Saylor's Unwavering Commitment to Bitcoin

Michael Saylor, the founder of MicroStrategy, has been vocal about his enduring commitment to buying Bitcoin, even at high prices.

In February of this year, he stated, "I intend to keep buying forever," indicating that there are no plans to sell any of the company's Bitcoin holdings.

Saylor is also notably bullish on Bitcoin's price prospects. In November 2023, when the price of BTC was hovering around $36,000, he predicted that "the price of Bitcoin could increase tenfold from here."

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