Home>Business>Bitcoin for Christmas: MicroStrategy buys one other $600M

Bitcoin for Christmas: MicroStrategy buys one other $600M

Enterprise intelligence agency MicroStrategy bought 16,130 Bitcoin (BTC) in November, bringing its whole holdings to greater than $6 billion.

In a Nov. 30 announcement, MicroStrategy co-founder Michael Saylor said the corporate acquired the BTC for roughly $593.3 million — a worth of $36,785 per Bitcoin. As of Nov. 29, MicroStrategy reported it held 174,530 BTC — price roughly $6.6 billion on the time of publication, at a worth of $37,726.

The enterprise intelligence agency has persistently bought giant volumes of Bitcoin since asserting it will undertake the cryptocurrency as its treasury reserve asset in August 2020. Saylor’s final announcement was in September, reporting MicroStrategy bought 5,445 BTC for roughly $147 million.

Associated: MicroStrategy’s Bitcoin stash back in profit with BTC price above $30K

MicroStrategy’s Bitcoin buy announcement adopted as the worth of the cryptocurrency rose roughly 10% in November. The agency reported a gain of $900 million for its Bitcoin holdings within the third quarter of 2023, with CEO Phong Le hinting on the time the corporate would proceed to make constant purchases.

Journal: How to protect your crypto in a volatile market: Bitcoin OGs and experts weigh in