MicroStrategy today announced the purchase of an additional $209 million worth of Bitcoin, its eighth consecutive weekly buy. The cloud computing firm turned “Bitcoin development” company says it paid an average price of $97,837 to acquire 2,138 BTC. That means MicroStrategy, already the world’s largest corporate holder of Bitcoin, now owns a total of 446,400 BTC, today worth roughly $41 billion.
The company’s founder and executive chairman Michael Saylor first began acquiring Bitcoin for MicroStrategy’s treasury in 2020 following the pandemic-induced market crash in March of that year. As the Federal Reserve prepared to inject trillions into the U.S. economy, Saylor seized on the opportunity—and hasn’t looked back since.
Slowly buying more and more Bitcoin over the years, MicroStrategy recently picked up the pace. The Monday following Donald Trump’s win on Election Day, the company announced one of its biggest buys ever, snapping up more than $2 billion of Bitcoin at an average price of $74,463. It followed up with another $4.6 billion worth the next week, and then upped the ante again the week after that with its biggest single buy yet: $5.4 billion in one clip. The company has continued buying Bitcoin every week since, with no sign of slowing down.
Elon Musk's artificial intelligence company xAI has filed a federal lawsuit challenging Minnesota's landmark law banning AI-powered "nudification" technology, arguing…
Bitcoin climbed toward $65,000 as an unusual shift in traditional financial markets created one of the rarest conditions…
Hyperscale Data has sold 100 Bitcoin to accelerate development of its planned artificial intelligence campus in Michigan, sending shares…
A newly launched memecoin called PIPEDOG ($PIPEDOG) became the latest breakout token on Robinhood Chain, surging more than 140x within…
BNY, the world's largest custodian bank, is bringing one of its core financial businesses onto…
A bipartisan group of U.S. senators has reportedly reached a new compromise on the ethics provisions of…