According to a US Securities and Exchange Commission filing, MicroStrategy Inc. bought 51,780 Bitcoin between Nov. 11 and Nov. 17 for around $4.6 billion.
The latest purchases, totalling $4.6 billion, are the crypto hedge fund’s largest. The company is yet to release a statement about the purchases.
In a press release to investors on November 11, the company reported other recent purchases, also of large sums: “The Company today announced that, during the period between October 31, 2024, and November 10, 2024, the Company acquired approximately 27,200 bitcoins for approximately $2.03 billion in cash, at an average price of approximately $74,463 per bitcoin, inclusive of fees and expenses. “
The enterprise software maker began acquiring cryptocurrency over four years ago as a method to hedge the company against inflation. It now has more than $29 billion in Bitcoin in its possession. Initially, cash was used cash to make the crypto purchases, but the company has since moved into using proceeds from issuance and the sale of its stock.
Co-founder and Chairman Michael Saylor states that the company aims to raise $42 billion over the next three years.
Bitcoin is tipped to reach 100,000 by the end of 2024, spurred by Trump’s urge to ease restrictions.
By CEO NA Editorial Staff
