As per reports, MicroStrategy has successfully acquired 18,300 Bitcoins for a total price of $1.11 billion. Michael Saylor, the creator of the company, announced the acquisition, which further increased the company’s current Bitcoin reserves.
Despite the volatility of the market, the Bitcoin approach employed by the company has resulted in a return of 4.4% month-to-date and 17.0% year-to-date. Compared to the total average of the corporation, which is $38,585, the average cost of a Bitcoin is currently $60,408 per BTC.
MicroStrategy has a long-term belief in the growing potential of Bitcoin, as seen by the fact that they hold 244,800 Bitcoins as of September 12, 2024, which are valued at about $9.45 billion.
The average acquisition cost for each Bitcoin is $38,585, suggesting that they have that belief.
