Breaking: MicroStrategy Buys More Than 1,000 BTC as Benchmark Announces Massive Price Target
01/06/2025 20:14
MicroStrategy keeps extending its weekly Bitcoin buying streak, but its purchases are getting smaller
MicroStrategy keeps extending its weekly Bitcoin buying streak, but its purchases are getting smaller
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Virginia-based business intelligence firm MicroStrategy has bought an additional 1,070 BTC for $101 million, according to a recent regulatory filing.
This is the ninth consecutive weekly purchase announced by Bitcoin's leading corporate holder.
MicroStrategy now won a staggering 447,470 BTC. The gargantuan Bitcoin fortune is currently valued at roughly $44.3 billion. This is more than the GDP of such countries as Nepal, El Salvador, and Cyrpus.
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The company's shares are currently up nearly 4% in pre-market trading.
This comes after Benchmark recently increased its MSTR price target to $650.
Bitcoin is currently trading at $98,894 after coming close to reclaiming the much-coveted $100,000 level earlier today.
Disclaimer: The opinions expressed by our writers are their own and do not represent the views of U.Today. The financial and market information provided on U.Today is intended for informational purposes only. U.Today is not liable for any financial losses incurred while trading cryptocurrencies. Conduct your own research by contacting financial experts before making any investment decisions. We believe that all content is accurate as of the date of publication, but certain offers mentioned may no longer be available.
About the author
Alex Dovbnya
Alex Dovbnya (aka AlexMorris) is a cryptocurrency expert, trader and journalist with extensive experience of covering everything related to the burgeoning industry — from price analysis to Blockchain disruption. Alex authored more than 1,000 stories for U.Today, CryptoComes and other fintech media outlets. He’s particularly interested in regulatory trends around the globe that are shaping the future of digital assets, can be contacted at [email protected].
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