Microstrategy just bought another $4.6 billion worth of Bitcoin

Microstrategy, founded by a software company Michael SaylorIt said it bought another 51,780 on Monday morning. Bitcoin At an average of $88,627, a total of $4.6 billion, according to one SEC filing.

As he always does, Saylor, the company's CEO, bragged about the acquisition Twitter Noting that the company's holdings now total 331,200 Bitcoin. The software company's Bitcoin stock was valued at $16.5 billion in total, but thanks to a recent price rally, it's now almost doubled to $29.65 billion.

The last step comes after the company He bought 2 billion dollars of Bitcoin Just last week, at an average price of $74,463. Combined, this means MicroStrategy has bought 51,780 bitcoins in the last seven days.

For perspective: this figure is double the global figure. A product traded on the Bitcoin exchange (ETP) entered in the last week, accordingly Vetle LundeHead of Research Studies at K33.

Since then, the price of Bitcoin has been increasing. Donald Trump confirmed his second term as president of the United States. The pro-crypto candidate has made a difference He promised. to the industry, from creating a Systematic Bitcoin backup to fire the SEC chairman Gary Gensler.

He has an orange coin. It broke the all-time high price mark several times In the last two weeks, the latest high was $93,477 CoinGecko. In this way, MicroStrategy's stock price is also at an all-time high., It surpassed $69 billion in market capitalization last week, thanks to the company's Bitcoin.

According to last week Google FinanceMSTR traded at a peak of $383 and has since fallen to around $350 at its current price. Meanwhile, Bitcoin has risen by about 11% in the past 7 days to its current price of $90,765.

In the year Founded in 1989, MicroStrategy was originally an information technology software company. However, in 2020, The company bought $250 million worth of Bitcoin When Sayler wanted to sweeten the company's books during the pandemic.

Since then, the company's fate has been closely tied to Bitcoin, with MicroStrategy even rebranding itself as a Bitcoin development company. In October, Microstrategy released a plan Buy $42 billion worth of Bitcoin In the next three years.

Saylor sets jaw-dropping targets for Bitcoin. The founder of the company predicted in September Bitcoin rises to $13 million per coin. In the next 21 years. It represents an increase of 14,222% from today's price.

These targets help explain why MicroStrategy has continued to gain bitcoin amid the recent pump, despite the company's The public company with the largest Bitcoin holdings More than 1% of the total supply.

Edited by Stacy Elliott and Andrew Hayward.