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Microstrategy bought about 80 thousand bitcoins in about 1 week. The company started the week with a purchase of 51,780 units, after buying 27,00 units last week. The average new purchase was $88,627. $4.6 billion was paid for the purchase.
It exceeded 300 thousand.
MicroStrategy has made a 41.8% return on its bitcoin purchases year-to-date. The Michael Siler-led company, which has now evolved into a full-fledged Bitcoin company, has 331,200 BTC with these latest purchases. While the total value of BTCs was $16.5 billion, the average purchase since 2020 was $49,874.
A purchase target of 42 billion dollars has been set.
As it is known, MicroStrategy announced in recent weeks that it aims to raise $42 billion through the sale of convertible bonds and securities and use these funds to purchase BTC over a 2-3 year period. In his recent statement, Saylor said that period could be pushed back even further.
Will stocks continue to break records?
Bitcoin’s rise gradually increases the value of MicroStrategy’s shares. As the share price rises, the company buys more bitcoins and earns more. This enabled MicroStrategy to even surpass Coinbase in terms of value.
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