MicroStrategy has done it again! The company has purchased another $1.11 billion worth of BTC!

MicroStrategy, known for its aggressive bitcoin investment strategy, has surprised the cryptocurrency market once again. Between August 6, 2024, and September 12, 2024, the company acquired another 18,300 bitcoins, spending about $1.11 billion on this purpose. The average purchase price was about $60,408 per bitcoin, which means the company is not slowing down in building its cryptocurrency portfolio. The sky is the limit!

The Undiminished Appetite for Bitcoin

MicroStrategy Inc. (NASDAQ: MSTR), led by Michael Saylor, has consistently invested in bitcoin for years, viewing it as a safe haven for capital and a long-term store of value. The company funds its BTC purchases from a variety of sources, including equity issuance, which allows it to continue to increase its share of the cryptocurrency market.

As of September 12, 2024, Michael Saylor’s company already owns about 244,800 bitcoins, which it acquired for a total of about $9.45 billion. The average purchase price was about $38,585 per bitcoin. These numbers mean that MicroStrategy has one of the largest bitcoin reserves in the world, putting the company at the forefront of corporations betting on cryptocurrencies.

Strategy for the future – Microstrategy focuses on BTC

Michael Saylor’s company has long touted bitcoin as a key part of its business strategy. The corporation believes that BTC, as digital gold, is an excellent hedge against the inflation of traditional currencies. As such, it’s no surprise that the company continues to buy even when bitcoin’s price is hovering around high levels. For Microstrategy, it’s always time to buy!

As the company grows its portfolio, other companies may begin to follow suit, which could have far-reaching implications for the entire cryptocurrency market. The company’s long-term strategy suggests that it believes bitcoin will continue to grow in value, which could inspire other corporations to make similar investments.

MicroStrategy is an example for other companies

MicroStrategy has proven once again that it is a leader among companies investing in bitcoin. Its relentless appetite for cryptocurrencies and consistent actions in increasing BTC reserves show that the company sees huge potential in them for the future. Will other companies follow in MicroStrategy’s footsteps? We will find out in the coming months. However, one thing is for sure – MicroStrategy has no intention of slowing down, and its influence on the cryptocurrency market is really big.