HomeNewsMicroStrategy, Led by Michael Saylor, Boosts Bitcoin Holdings with Acquisition of 12,333...

MicroStrategy, Led by Michael Saylor, Boosts Bitcoin Holdings with Acquisition of 12,333 BTC, Surpassing $4.5B in Total Bitcoin Ownership

- Advertisement -
  • MicroStrategy has acquired an additional 12,333 Bitcoins worth around $340 million, taking its total Bitcoin holding value beyond $4.52 billion.
  • This move has heightened institutional interest in Bitcoin, with predictions of a BTC price surge to $60,000.

Pioneering in the Bitcoin frontier, MicroStrategy (NASDAQ: MSTR), the largest corporate Bitcoin holder worldwide, revealed a bold purchase of $340 million worth of Bitcoin on Tuesday, June 27. Michael Saylor, the company’s CEO, confirmed the acquisition of 12,333 Bitcoins, reflecting the firm’s unwavering faith in the promising digital asset.

- Advertisement -

Established as a significant player in the Bitcoin ecosystem since its first Bitcoin venture in September 2022, MicroStrategy’s periodic investments have persisted resiliently, despite the notorious crypto winter of 2022. The company now holds a total of 152,333 Bitcoins, which were acquired at an aggregate investment of approximately $4.52 billion.

A vocal Bitcoin advocate, Saylor perceives Bitcoin as a robust store of value amid the prevailing global economic inflationary pressures. He champions Bitcoin’s Layer-2 scalability platform, the Lightning Network, forecasting that it will eventually surpass VISA in transaction processing capability.

>> Buy Bitcoin quickly and securely with PayPal, credit card or bank transfer at eToro with low fees and deposit protection. Get started with BTC now. Visit Website <<

- Advertisement -

MicroStrategy’s latest procurement strengthens the surge of institutional participation in cryptocurrencies, particularly Bitcoin. In the wake of spot Bitcoin ETF filings by financial titans like BlackRock, the BTC price has been on an upward trajectory, appreciating over 20% in less than a month.

Reflecting on this pattern, on-chain data reveals a marked increase in institutional involvement in Bitcoin investment products, registering inflows nearing $187 million last week alone. Such robust institutional inflows bode well for the crypto asset class.

Prominent Bitcoin analyst, MustStopMurad, based on M1 money supply analysis, anticipates a plausible BTC price of $60,000 within the year. While Bitcoin witnessed critical levels at $6,000 in 2018 and 2019, and $30,000 in 2021 and 2022, aligning closely with M1 levels, he envisages Bitcoin reclaiming the $60,000 mark if the trend continues.

Furthermore, the forthcoming Bitcoin halving event, scheduled for mid-2024, could potentially serve as an additional catalyst propelling BTC price. As these events unfold, MicroStrategy’s massive Bitcoin acquisition, amidst a vibrant backdrop of increasing institutional interest, promises an exciting future for Bitcoin.


Best Crypto Exchange for Everyone:

  • Invest in Bitcoin (BTC) and 70+ cryptocurrencies and 3,000+ other assets.
  • 0% commission on stocks – buy in bulk or just a fraction from as little as $10.
  • Copy top-performing traders in real time, automatically.
  • Regulated by financial authorities including FAC and FINRA.

2.8 Million Users

Get Started


- Advertisement -
ETHNews does not endorse and is not responsible for or liable for any content, accuracy, quality, advertising, products, or other materials on this page. Readers should do their own research before taking any actions related to cryptocurrencies. ETHNews is not responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods, or services mentioned.
Jane Smith
Jane Smith
As a Bitcoin Journalist, I am dedicated to reporting the latest developments in cryptocurrency, with a particular focus on Bitcoin. Through extensive research and interviews with industry experts, I provide accurate and up-to-date information on the ever-evolving world of cryptocurrencies. My goal is to help readers stay informed and make informed decisions regarding their investments in this rapidly changing field.
- Advertisment -spot_img