MicroStrategy has significantly expanded its Bitcoin holdings, acquiring an additional 55,500 BTC for approximately $5.4 billion at an average price of $97,862 per Bitcoin. As of November 24, 2024, the company holds a total of 386,700 BTC, purchased for around $21.9 billion at an average acquisition cost of $56,761 per Bitcoin.
Analysts at Bernstein predict MicroStrategy will own 4% of Bitcoin’s global supply by 2033, fueled by its $42 billion capital plan for acquisitions, expected to be utilized within 18 months. Raising confidence in its strategy, Bernstein increased its end-of-2025 price target for MicroStrategy stock to $600.
Microstrategy witnessed an incredible 24.7% rise in its stock (NASDAQ: MSTR) price this week. The uptrend was buoyed by Bitcoin’s rally and the company’s planned financial moves. Widely known for its aggressive Bitcoin hodling and accumulation strategy, Microstrategy had cited a convertible debt, that offers a 0% interest rate grabbing the market’s attention.
Despite Bitcoin’s recent dip, whales continue to accumulate. According to Lookonchain, six new wallets collectively withdrew 1,110 BTC, valued at $107.7 million, from Binance on Sunday, signaling strong buying activity despite market fluctuations.
Bitcoin hit a new all-time high of $99,588 on Friday, coming within $412 of the $100,000 milestone. Over the weekend, BTC dipped 3.8% to $95,734 on Sunday but rebounded swiftly, closing at $97,900.
MicroStrategy’s latest update confirms a holding of 334,420 Bitcoins, with more acquisitions anticipated.
The stock soared due to Bitcoin’s price appreciation, a $3 billion bond sale, and optimism around its Bitcoin-focused strategy.
The price of 1 BTC at the time of press is hovering around $97,496.00
Story Highlights The Ethereum price today is . ETH price with a potential surge could…
Here’s another twist in the Trump memecoin world – some top holders say that the…
Shiba Inu (SHIB) has captured the imagination of crypto enthusiasts worldwide. Known for its whimsical…
The Pi Network Core Team is facing heavy criticism from its own community after announcing…
Brazil is making massive strides in the cryptocurrency space, from becoming the first country in…
The victims of the WazirX crypto hack have more pain than resolution. The Singapore High…
