As the stock and the leading crypto continue to soar to new heights this year, Michael Saylor’s MicroStrategy has purchased another $5.4 billion worth of Bitcoin. Indeed, the business intelligence firm announced that it added 55,500 BTC to its stash in what is its biggest purchase to date.
Saylor announced the purchase on X (formerly Twitter), with the firm paying $97,862 per BTC during the record-setting sale. The move only adds to the company’s ongoing Bitcoin acquisition strategy. To date, the firm holds a remarkable 386,700 BTC acquired for $21.9 billion.
Also Read: Here’s Why You Need to Buy MicroStrategy Stock Before BTC Hits $100k
MicroStrategy Keeps Growing BTC Stash, Adds $5.4 Billion in Bitcoin
There is little argument that 2024 has been the biggest year in Bitcoin’s history. Not only did it completely change US investments into cryptocurrencies in becoming the first digital asset-based ETF, but it has also surged in institutional investment interest. Moreover, it has skyrocketed in value, setting continued all-time highs.
That has been a massive benefit to some of the asset’s biggest defenders. Chief among them is Michael Saylor’s MicroStrategy, which purchased $5.4 billion in Bitcoin in its latest acquisition. Adding 55,500 BTC to its stash, the firm has grown its holdings and solidified its strategy.
Also Read: MicroStrategy Hits 600% YTD Growth
The latest purchase comes just a week after the firm enacted another $4.6 billion purchase, which had been a record at the time it went through. The company has shown no signs of slowing down its Bitcoin purchasing, nor should they. Indeed, MSTR stock has surged, with the company reaching a $100 billion market cap.
The company had sought to raise another $2 billion to buy even more Bitcoin earlier this year. The biggest question now is: what happens when BTC reaches a $100,000 price? The asset is right on the doorstep, reaching a $99,000 all-time high.