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MicroStrategy, led by its executive chairman Michael Saylor, has made headlines again with another massive Bitcoin acquisition. The software giant has added 51,780 BTC, worth approximately $4.6 billion, bringing its total Bitcoin holdings to nearly $30 billion.
MicroStrategy’s Growing Bitcoin Treasury
In a November 18 announcement on X (formerly Twitter), Saylor shared that the Virginia-based company now holds 331,200 Bitcoin, acquired for $16.5 billion, at an average cost of $49,874 per BTC.
- Under Saylor’s leadership, MicroStrategy began its Bitcoin buying spree in 2020, positioning the cryptocurrency as a treasury reserve asset.
- The firm’s strategic move has paid off, with MicroStrategy outperforming the S&P 500, cementing its place as a top corporate Bitcoin holder.
Bitcoin Stash Outshines Corporate Giants
According to Bloomberg, MicroStrategy’s Bitcoin holdings now surpass the total cash reserves of major corporations like Nike Inc. and Johnson & Johnson, further underscoring its bold approach to digital assets.
Andrew Tate Joins the Bitcoin Buying Frenzy
Controversial internet personality Andrew Tate has pledged to mirror MicroStrategy’s Bitcoin purchases with his own investments. In an X post, Tate announced:
“I promised that each time MicroStrategy buys BTC, I will buy $1 million worth of BTC. … But for the culture, EVERY TIME he buys, I’ll buy $1M USD more BTC.”
Bitcoin’s Bull Run and Saylor’s Predictions
The latest acquisition coincides with Bitcoin’s impressive rally, surpassing $93,000 last week. Appearing on CNBC, Saylor expressed optimism about the cryptocurrency’s future:
“I’m planning the $100,000 party. I’d be surprised if we didn’t go through $100,000 in November or December.”
Saylor credited Bitcoin’s bullish trajectory to several factors, including the recent election of Donald Trump as U.S. President. He described Trump’s presidency as “incredibly auspicious for Bitcoin”, emphasizing the absence of immediate threats to the cryptocurrency.
Trump’s Pro-Crypto Policies Boost Confidence
President-elect Trump has been a vocal supporter of digital assets, launching his family’s crypto platform, World Liberty Financial, and promising a crypto-friendly regulatory framework.
“We will have regulations,” Trump stated during the Bitcoin 2024 Conference. “But from now on, the rules will be written by the people who love your industry, not hate your industry.”
Conclusion
MicroStrategy’s continued investment in Bitcoin reflects growing institutional confidence in the cryptocurrency’s long-term potential. With figures like Michael Saylor and Andrew Tate backing its rise, Bitcoin is poised to play an even larger role in the global financial landscape.
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