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.
Cypherpunk Technologies is expanding its massive bet on Zcash by launching what it calls the…
MapleStory Universe is putting artificial intelligence in the hands of game creators with the launch…
Kalshi is making another major move beyond prediction markets, filing with the Commodity Futures Trading…
Coinbase is bringing high-leverage decentralized derivatives directly into its Base App through an integration with…
Hong Kong's first regulated Hong Kong dollar stablecoin is moving beyond testing and into real-world…
Cybersecurity researchers at Rapid7 have uncovered a sophisticated crypto fraud operation that used nearly 885,000…