MicroStrategy has expanded its Bitcoin ( BTC ) reserves by acquiring 11,000 BTC for$ 1. 1 billion, a time after President Donald Trump’s opening.
The latest acquisition brings MicroStrategy’s total holdings to 461,000 BTC, acquired at an average price of$ 63,610 per Bitcoin, including fees and expenses, as per a U. S. Securities and Exchanges Commission ( SEC ) filing.
The overall cost of the firm ’s Bitcoin stockpile is around$ 29. 3 billion, showing the firm ’s long-term devotion to the world’s largest crypto.
In its latest buying spree, Michael Saylor’s software company bought the crypto at an average price of$ 101,191 per Bitcoin, as per the filing.
Despite the merger, MicroStrategy’s stocks showed little motion, trading at$ 396. 50, significantly down from the previous program, according to information.
The Bitcoin price recently peaked at$ 109,000 amid speculation about pro-crypto policies under Trump’s presidency.
Nevertheless, the price has since corrected to$ 104,401 as of press day, as the industry reacted to the lack of immediate crypto-related activities.
Despite earlier enthusiasm, Trump did not sign any professional orders related to crypto on his first time in business, leaving the business awaiting more precision on his administration’s position.
The crypto is down 3 % over the past 24 hours and 10 % from its weekly high, per data.
The latest buy follows a series of high-value Cryptocurrency acquisitions by MicroStrategy, including$ 344 million worth of BTC earlier this month.
The business ’s method of accumulating Bitcoin since 2020 has inspired various companies, such as Tesla and Block, to embrace similar techniques.
MicroStrategy now holds over 1 % of all Bitcoin in life and continues its pursuit of doubling that communicate.
Saylor’s firm’s largest-ever consolidation came shortly after Trump’s election victory when the business purchased$ 5. 4 billion worth of Bitcoins in a single purchase.
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