Breaking: MicroStrategy Buys $1.1 Billion Worth of Bitcoin
01/21/2025 20:03
MicroStrategy has now purchased a total of 461,000 BTC
MicroStrategy has now purchased a total of 461,000 BTC
MicroStrategy (MSTR) has announced a $1.1 billion Bitcoin purchase. This is the company's 11th consecutive weekly Bitcoin purchase.
The company's total Bitcoin holdings have now reached 461,000 BTC (roughly $48 billion at current prices).
This is the company's second purchase with an average price above the $100,000 mark. This time, it was $101,191.
The company's average buying price has now climbed to $63,610. Meanwhile, Bitcoin is currently changing hands at $104,236 after paring some of its recent losses.
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The company's shares are down 0.57% in pre-market trading.
CryptoQuant CEO Ki Young Ju has stated that the MicroStrategy (MSTR) stock is currently undervalued relative to its Bitcoin holdings.
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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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