Bitcoin breaks $72k as MicroStrategy earns an additional 12,000 BTC.
MicroStrategy added 12,000 BTC to its holdings, pushing the price of Bitcoin above $72,000.
MicroStrategy now holds 205,000 BTC, worth around $6.91 billion.
BTC traded at $72,211 as its market cap hit $1.42 trillion, surpassing silver to become the world's 8th largest asset.
MicroStrategy has added an additional 12,000 BTC to its Bitcoin holdings, the Michael Saylor-led company has announced.
Saylor made headlines on Monday, revealing that the company bought the bitcoins for about $821.7 million. MicroStrategy spent the massive ride at an average of $68,477 in BTC.
According to Saylor, the company acquired the additional coins through the use of convertible notes and excess profits. Earlier, Saylor Microstrategy announced that it has secured a loan of 800 million for six years. The company used the funds to increase its Bitcoin holdings.
“As of 3/10/24, $MSTR hodls 205,000 $BTC for ~$6.91B at an average of $33,706 per bitcoin,” Salor posted on X.
MicroStrategy got an additional 12,000 BTC for ~$821.7M from exchange notes and extra cash for ~$68,477 in #bitcoin . As of 3/10/24, $MSTR hodls 205,000 $BTC for ~$6.91B in bitcoin at an average of $33,706.
— Michael Saylor⚡️ (@saylor) March 11, 2024
Bitcoin price breaks above $72,000 to a new ATH.
Bitcoin's price surged during the latest buying, reaching a new all-time high above $72,000.
With the microstrategy acquisition space and Bitcoin ETF frenzy still in full swing, the price of Bitcoin is likely to rise.
Mesari founder and CEO's action on Bitcoin price as the same cryptocurrency pushed above $71k.
Just to be clear, in the last two years we've had the LUNA collapse, the 3AC bankruptcy and credit crunch, the FTX fraud and collapse, the Genesis-Gemini Earn bankruptcy and the $4bn Binance fine.
Bitcoin is at an all time high.
Stop selling immortals. pic.twitter.com/wv8NUB7ADY
— Ryan Selkis (D/ACC) 🇺🇸 (@twobitidiot) March 11, 2024
Earlier, Bitcoin's market cap overtook that of silver to become the 8th largest asset in the world.
According to data from CoinGecko, Bitcoin's price hit a new all-time high of $72,211.
