Bitcoin for Christmas: Microstrategy buys another $600M
Business intelligence firm MicroStrategy bought 16,130 Bitcoin (BTC) in November, bringing its total holdings to more than $6 billion.
In the year In a Nov. 30 announcement, MicroStrategy founder Michael Saylor said the company acquired BTC for roughly $593.3 million — a price of $36,785 per Bitcoin. In the year As of Nov. 29, MicroStrategy reported holding 174,530 BTC — roughly $6.6 billion at the time of publication — at a price of $37,726.
MicroStrategy got an additional 16,130 BTC for ~$593.3 million at an average of $36,785 per #bitcoin. As of 11/29/23 @MicroStrategy now hodls 174,530$BTC for ~$5.28 billion at an average of $30,252 per bitcoin. $MSTR https://t.co/3XHhpIvsuA
— Michael Saylor⚡️ (@saylor) November 30, 2023
The business intelligence firm has consistently bought large amounts of bitcoin since the business intelligence firm announced it would consider the cryptocurrency as a treasury asset in August 2020. Saylor's last announcement was in September, when MicroStrategy bought 5,445 BTC for $147 million.
RELATED: MicroStrategy Bitcoin Returns To Profits With BTC Price Over $30K
Cryptocurrency prices surged 10 percent in November following MicroStrategy's announcement of a bitcoin purchase. CEO Fong Le, who reported a profit of $900 million in the third quarter of 2023, hinted that the company will continue to make a series of acquisitions.
Magazine: How to protect your crypto in a volatile market: Bitcoin OGs and experts weigh in.
